Michael Dell Takes Advice He’d Given Steve Jobs: Gives Money Back to Shareholders, Takes Company Private
Back in 1997, Dell CEO Michael Dell had commented on Apple’s troubled situation saying that Steve Jobs should shut down the company and “give the money back to the shareholders.” In an announcement made by Dell today, CEO Michael Dell seems to have followed some portion of that advice himself.
The company today announced that it’s going private in a $24.4 billion deal led by investment firm Silver Lake, paying shareholders $13.65 per share, which is 25 percent more than the company’s stock price before rumors of the buyout emerged.
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