The founder and chief executive of Dell, Michael Dell, will gain power and influence after the company becomes private, according to a media report. Thanks to the shares he already owns, plus additional funds as well as the stock that is owned by the company itself, Dell will get the full power to reposition the company amid turmoil on the PC market.
Michael Dell personally owns 15.7% stake in the company he founded, in addition, he plans to contribute equity financing of $500 million to $1 billion into privatization of Dell. When his stake and planned equity are combined with part of $11 billion the PC maker has in cash, Michael Dell could gain majority control of the company after [and if] the buyout happens, reports Bloomberg news agency.
Michael Dell to gain bigger influence on Dell after privatization
Posted on Thursday, Jan 31 2013 @ 13:17 CET by Thomas De Maesschalck