NEW YORK (TheStreet) -- Lowering the curtain on weeks of intense M&A chatter, Dell
finally announced that CEO Michael Dell and Silver Lake Partners are acquiring the company in a $24.4 billion deal.
Under the terms of the transaction, Dell shareholders will receive $13.65 a share in cash, a premium of 25% to the company's closing price Jan. 11, when rumors of the deal emerged.
"I believe this transaction will open an exciting new chapter for Dell, our customers and team members," Michael Dell wrote in a statement. "We can deliver immediate value to stockholders, while we continue the execution of our long-term strategy and focus on delivering best-in-class solutions to our customers as a private enterprise."
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