Dell Inc will delist from the Nasdaq at the close of Tuesday's trading, as founder Michael Dell and private equity house Silver Lake complete their controversial $24.9 billion buyout of the struggling PC maker.
The go-private acquisition, fought by major shareholders like Carl Icahn who demanded a higher price, ends Dell's decades-long run as one of the world's largest publicly traded PC makers.
The company, briefly the world's largest PC maker last decade, has seen its shares plummet from a high above $50 during its heyday, in 2000. The buyout was eventually approved at a price of $13.75 per share, plus a 13-cent special dividend.
"Today, Dell enters an exciting new chapter as a private enterprise," said CEO Michael Dell.
Deccan Herald is on WhatsApp Channels| Join now for Breaking News & Editor's Picks