NTT Data and Dell entered into an agreement for NTT to acquire Dell Services, an IT services provider. Wells Fargo Securities acted as lead financial advisor to NTT Data.
According to Reuters, the commitment deadline on $10 billion of pro-rata loans that is part of a $45 billion financing package and will allow Dell to purchase EMC has been extended due to a slow order book.
Dell and EMC said they have signed an agreement under which Dell and its owners will acquire EMC in a $67 billion transaction. Barclays, BofA Merrill, Credit Suisse, Deutsche Bank, Goldman Sachs and RBC Capital Markets are providing debt financing.
BofA Business Capital led a $2 billion ABL facility for Dell. Proceeds will be used to help finance the acquisition of the company by Michael Dell and Silver Lake Partners.
Bloomberg reported that Dell is working with AlixPartners on its turnaround, which will include organizational restructuring and cost cuts tied to acquisitions made by Dell over the past five years.
Dell announced that based on a “preliminary vote tally,” shareholders have approved a buyout proposal worth $25 billion, ending months of conflict over the fate of the ailing personal computer maker.
Bloomberg reported that Delaware Chancery Court Judge Leo Strine Jr. denied Carl Icahn’s bid to speed up proceedings in a lawsuit against computer maker Dell.
Dell announced fiscal 2014 Q2 net income was $204 million, down 72% from a year earlier. The computer maker noted that revenue and operating income from its PC business was off 5% and 71%, respectively.
The Wall Street Journal reported that a corporate-law tribunal is expected on Monday to fast-track Carl Icahn’s legal challenge to Michael Dell’s buyout for Dell, setting up a potential showdown between the two billionaires.