Dell shareholders on Thursday approved a deal with Michael Dell and Silver Lake Partners. Dell and Silver Lake will pay a total of $24.9 billion to shareholders as part of the deal that will take Dell private. Each share will be acquired for $13.75 in cash plus a $0.13 cash dividend, the company announced on Thursday.
“I am pleased with this outcome and am energized to continue building Dell into the industry’s leading provider of scalable, end-to-end technology solutions,” Dell CEO and chairman Michael Dell said. “As a private enterprise, with a strong private-equity partner, we’ll serve our customers with a single-minded purpose and drive the innovations that will help them achieve their goals.”
Dell said it expects the deal to finalize before the end of the fiscal third quarter of 2014. It’s unclear what will immediately change, though without shareholders making large decisions, it could free up Dell to take larger chances.