There was some excitement around Dell’s stock today as a circuit breaker was tripped that halted trading when rumors began circulating that the company may exit the stock market.
Dell hasn’t had the easiest of roads lately thanks to declining PC sales, but it has been able to keep itself cash positive, and currently has $5.15 billion in reserves. With that in mind, apparently company CEO Michael Dell is in talks with private equity firms to take his company back in to private holdings.
According to a report from Bloomberg, sources familiar with the matter claim that Dell is indeed talking with two private equity firms, and that multiple banks have been contacted about potentially financing the deal. According to CNBC, the company merely stated in reply to an inquirey about the rumors, “We won’t comment on rumors or speculation.”
Due to the rumors circulating today, the stock began to quickly rise which set off circuit breakers designed to keep stocks from swinging wildly out of control. Once the breaker was reset, and trading resumed, the company’s stock surged 10 percent almost instantly.
We’ll be keeping an eye on this story.