One of the biggest names in computers is leaving the public arena.
Helped by a $2 billion loan from Microsoft, Dell is going private in a massive $24.4 billion deal, which has been rumored about for weeks.
According to sources close to the deal, Michael Dell is leading the charge for what Reuters calls the biggest leveraged buyout since the financial crisis.
The company’s founder and CEO, and private equity firm Silver Lake are paying $13.65 per share in cash for the world’s No. 3 computer maker.
The share price is a premium of approximately 24 percent to the average price of Dell stock.
All members of the pending deal reportedly expect the transaction to close before the end of the second quarter of Dell’s fiscal 2014.
The biggest question now is whether or not shareholders will approve the deal.