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Microsoft offers $2 billion loan to help Dell recover.
Dell founder Michael Dell is taking his company back. Announced today, Dell will re-acquire control of the company in a $24.4 billion based on cash and equity with help from investment firm Silver Lake and a $2 billion loan from Microsoft.
Dell has suffered poor sales and waning PC marketshare for the last two years, slipping to third place in recent months. By taking the company off of the publicly traded market, Dell says it will become more nimble to execute long-term strategies. While much of the investment comes from the founder's own finances, Microsoft hopes to reinvigorate one of its largest partners, helping drive business based on its Windows platforms. It's unclear what, if anything, the acquisition will mean for Dell-owned gaming PC brand Alienware.
While the deal has cleared initial approvals and is expected to be completed before Q2 FY2014, however, the company will accept competing bids for the next 45 days.
