Reuters reported that Dell is coming closer to a sale agreement to a buyout syndicate led by founder and chief executive Michael Dell and private equity firm Silver Lake Partners. The article said the deal could top $24 billion, translating into an equity valuation for the Round Rock, TX-based company between $22.6 billion and $24.4 billion.
The article noted that people familiar with the matter said that Michael Dell is expected to take majority ownership of the company while Silver Lake and Microsoft would become minority investors.
According to Reuters, the investment group secured up to $15 billion of debt financing to take Dell private from four investment banks, Barclays, Bank of America Merrill Lynch, Credit Suisse and RBC Capital.
To read the entire Reuters article, click here.