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Dell Takes Itself Private In $24.4 Billion Deal: With Help From Microsoft

first_img3 Areas of Your Business that Need Tech Now Tags:#dell#Finance#PC#PCs markhachman Cognitive Automation is the Immediate Future of… Massive Non-Desk Workforce is an Opportunity fo…center_img IT + Project Management: A Love Affair Related Posts Dell Inc. confirmed Tuesday that it has agreed to a $24.4 billion deal that will take the company private, removing the second-largest PC company from the prying eyes of investors, analysts and regulators. But its partner Microsoft may provide at least a small window into the company’s finances.(See also: Michael Dell Goes To Hell.)What The Deal Looks LikeMichael Dell and a collection of financial partners, including Silver Lake and MSD Capital, will buy up Dell’s outstanding shares at $13.65 apiece, representing a 25% premium over Dell’s closing price on Jan. 11., the day before the rumors of Dell going private surfaced. (A company like Dell that goes private must buy up all the company’s outstanding shares, which means offering shareholders an incentive – a better price on their shares then they could otherwise get.)The deal also includes a $2 billion loan from Microsoft, which is not a permanent investment. Terms of the loan were not disclosed. In addition, debt financing was provided by a number of Wall Street banks. Dell Inc. also said that a Special Committee in charge of the deal would be open to alternative proposals during a 45-day “go shop” period, although the person or group that proposed an alternative deal could be subject to termination fees of between $180 million to $450 million.Michael Dell will retain his title as CEO and chairman, and will contribute his 14% stake in the company; which means that the company will buy up his shares, paying him a very large sum in return. Dell approached Silver Lake last August to take the company private, and the company formed a special committee at the time to evaluate its options.What The Deal Means For Dell“I believe this transaction will open an exciting new chapter for Dell, our customers and team members,”  Michael Dell said in a statement.For Dell, going private means that the company can invest in new technologies and otherwise pursue risky strategies that shareholders could otherwise criticize. With the buyout, Dell Inc. answers to no one, save for the banks and Microsoft, who are funding the deal. It also gives Michael Dell himself an exit strategy, should he wish to step down or if the banks choose to replace him.“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,” Dell added. “Dell has made solid progress executing this strategy over the past four years, but we recognize that it will still take more time, investment and patience, and I believe our efforts will be better supported by partnering with Silver Lake in our shared vision. I am committed to this journey and I have put a substantial amount of my own capital at risk together with Silver Lake, a world-class investor with an outstanding reputation. We are committed to delivering an unmatched customer experience and excited to pursue the path ahead.”Microsoft: A Window into Dell’s FinancesIt’s possible, however, that Dell won’t go completely private. For the period of time that Microsoft’s loan is active, Microsoft’s shareholders are going to want to know how its investment is doing. Microsoft accounts for its investments on its income statement, and could break out the Dell investment as a separate line item. That number won’t offer much insight into how profitable the newly private Dell is, or what revenues it will have pulled in, but it will indicate whether Dell’s business is going in a positive or negative direction. “Microsoft has provided a $2 billion loan to the group that has proposed to take Dell private,” Microsoft said in a statement. “Microsoft is committed to the long term success of the entire PC ecosystem and invests heavily in a variety of ways to build that ecosystem for the future.“We’re in an industry that is constantly evolving,” the company added. “As always, we will continue to look for opportunities to support partners who are committed to innovating and driving business for their devices and services built on the Microsoft platform.”So why Dell? Influence.“Microsoft, with a $3 billion investment, would get a certain amount of control and influence over Dell,” wrote Patrick Moorhead, a former corporate fellow with AMD and now principal of his own analyst firm, Moor Insights, in an email earlier this month. “Dell has pulled back from the PC business as of late and that is not good for Microsoft as its cash cow is Windows. An investment of this size could guarantee a longer term Windows customer.”Besides the consumer market, Microsoft could steer Dell toward being more focused on the Windows platform for the data center, rather than “trying to do everything for everybody,” said David Johnson, analyst for Forrester Research, in an earlier interview with ReadWrite’s Antone Gonsalves. In addition, Microsoft could get access to Dell’s enterprise sales force and could provide a “converged infrastructure” that unifies the silicon, the hardware, the operating system platform and the management and operation tools.The deal is expected to be completed by the end of the second quarter. Dell’s future will become a bit more shadowed then, by its own choice.last_img read more

Calisaan shocked by ejection, rues missed chance to play on home floor

first_imgEthel Booba on hotel’s clarification that ‘kikiam’ is ‘chicken sausage’: ‘Kung di pa pansinin, baka isipin nila ok lang’ Trump signs bills in support of Hong Kong protesters Hotel says PH coach apologized for ‘kikiam for breakfast’ claim Calisaan seethed over losing the rare opportunity, saying that games like those is a big for San Sebastian, which could put them at a good standing at the end of the first round while giving a show to its schoolmates.“We need to be complete when we’re playing because if we’re not, my teammates may have a hard time adjusting,” he said.But Calisaan accepts his fate and vows to be the Golden Stags’ loudest booster on their home floor, entrusting much of the leadership to their trio of guards in RK Ilagan, Ryan Costelo, and Renzo Navarro.“I hope they all step up. I just told them to enjoy their game so that we’ll all be happy,” he said. For the complete collegiate sports coverage including scores, schedules and stories, visit Inquirer Varsity. NATO’s aging eye in the sky to get a last overhaul Lack of tournaments not a problem for Lehnert Sports Related Videospowered by AdSparcRead Next LATEST STORIES Robredo: True leaders perform well despite having ‘uninspiring’ boss PLAY LIST 02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games Calisaan was slapped with two unsportsmanlike fouls while playing defense on Sidney Onwubere, sending him out of the game with 1:14 left in the period.The 22-year-old forward argued that he didn’t do anything wrong with his defense.FEATURED STORIESSPORTSSEA Games: Biñan football stadium stands out in preparedness, completionSPORTSPrivate companies step in to help SEA Games hostingSPORTSBoxers Pacquiao, Petecio torchbearers for SEA Games opening“I know for myself it’s not an unsportsmanlike foul. I wasn’t going for the face or the head. Even if you review the tapes, I only hit him in the elbow. I was going for the ball, but he double-pumped and that’s the reason why (Onwubere) got hit in the arm.”Consistently racking double-doubles this season with his averages of 16.1 points and 10.0 rebounds, Calisaan’s ejection takes him out of the running for the end of season awards.center_img Tristan Tamayo/INQUIRER.netMichael Calisaan was in disbelief after he got ejected late in the third quarter of San Sebastian’s 75-73 win over EAC on Friday.“I don’t know,” said Calissan, struggling to explain what led him to hit the showers early.ADVERTISEMENT MOST READ Lacson: SEA Games fund put in foundation like ‘Napoles case’ Don’t miss out on the latest news and information. That, however, means little for the fourth-year forward, sharing that his biggest goal is to help the Golden Stags return to the Final Four for the first time since 2013.“The important thing for me is to win and to achieve what we’re aspiring for which is to be a champion. We’ll all try our best to do that,” he said. “I’ve won awards before, but if you get those and your team is in the bottom, that means nothing. What I want more is to be on top, make it to the Final Four for the first time in college. I made it in high school but that has eluded me in college.”San Sebastian currently stands at an even 4-4 with a game left in the first round.The ejection, though, will keep Calisaan out of the Golden Stags’ home game against JRU on Thursday, where he is set to serve his one-game suspension.“It could have been my first time playing in our home court,” he rued.ADVERTISEMENT View comments Robredo should’ve resigned as drug czar after lack of trust issue – Panelo Pagasa: Storm intensifies as it nears PAR Celebrity chef Gary Rhodes dies at 59 with wife by his sidelast_img read more

No Indian in ‘ICC Test Team of the Year’

first_imgIn a reflection of the slump that India went through last year, no cricketer from the financial powerhouse of the game managed to find a place in the ‘ICC Test Team of the Year’, which was dominated by South African and English players.India were whitewashed by England and Australia in back-to-back away series last year, a free-fall from the number one position that the side held before that.The list announced here on Thursday, along with the nominees for the ICC annual awards scheduled on September 15 here, featured five South Africans (including the 12th man) and three Englishmen.In fact, South Africa’s pace spearhead Dale Steyn made the side for the fifth year running.The team was chosen by a selection panel chaired by West Indian batting legend Clive Lloyd.”Six countries are represented in the 12-man line-up and South Africa’s Dale Steyn has earned a place in the ICC Test Team of the Year for the fifth successive year,” the ICC said in a statement”It is the third year in a row that South Africa’s Hashim Amla and Jacques Kallis and Sri Lanka’s Kumar Sangakkara feature in the side, while England’s Alastair Cook and Stuart Broad appear for the second year in a row,” it added.Australia’s current captain, Michael Clarke, was named the skipper of the team.”Those selected can be justifiably proud of their achievements and well deserving of the recognition they receive as great cricketers of their era,” said ICC Chief Executive David Richardson.advertisement”The quality of the Test cricket played over the course of the year has been exceptional and I did not envy the selectors in their task of selecting the best. Congratulations to those who have made it. They make a formidable team,” he added. Lloyd said it was difficult line-up to pick given the vast international talent.”It is always tough to decide on the Test team with so many worthy candidates to consider based on performances between 4 August 2011 to 6 August 2012. The team once again has a strong batting line-up, while the bowlers are a tough combination of pace and spin who could dismiss any line-up on any surface.”The process of selection was a difficult one, with a lengthy debate between the panel on all the top performances during the voting period and various combinations were considered,” he said.”The selectors did utilise a vast amount of statistics from the period under observation, but we also took into account all other factors like the opposition, pitch conditions, match situation etc. But when you have only 12 places to fill from a big group of world-class players, there will always be a few who will miss out.”Lloyd was joined on the panel by former Sri Lanka batsman Marvan Attapatu, former England women’s captain Clare Connor, former West Indies all-rounder Carl Hooper and Australia’s World Cup winner Tom Moody.Statistics were available as a guide but were not necessarily the overwhelming factor in the choices made.The ICC Test Team of the Year is one of two teams selected by the ICC selection panel along with the ODI line-up which will be announced a day before the LG ICC Awards.The ICC Test Team of the Year (in batting order): Alastair Cook (Eng), Hashim Amla (SA), Kumar Sangakkara (SL), Jacques Kallis (SA), Michael Clarke (Aus, captain), Shivnarine Chanderpaul (WI), Matt Prior (Eng,  wicketkeeper), Stuart Broad (Eng), Saeed Ajmal (Pak), Vernon Philander (SA), Dale Steyn (SA), 12th Man ? AB de Villiers (SA).last_img read more

Honda looking at product options, may launch a compact SUV option

first_imgHonda MobilioHonda Cars India Ltd (HCIL) is weighing its options to come out with a Sport Utility Vehicle, which is a ‘growing and potential’ segment, a top company official said here today.”Yes, we are studying it, as SUV is a potential and growing segment,” Jnaneswar Sen, Senior Vice President, Sales and Marketing, HCIL, told reporters in reply to a question on plans to launch a compact SUV in the Indian market.Sen, who was here to attend a felicitation ceremony to deliver the 500th car at Manchester Honda, said the company was also working on launching the new generation Jazz next year.However, he refused to give a time-frame for the launch and said the company has already started working on that.Asked about plans to launch sub Rs 4 lakh car, he said there were no plans as such to produce smaller size or lesser priced car than the Brio.On the recently launched Mobilio, Sen said there has been an excellent response for the seven-seater launched just two months ago, with 20,000 bookings.The company witnessed 88 per cent growth last year, he said, adding that in the first five months of this fiscal, the growth stood at 49 per cent and expected to sustain it.To another question on the impact of deregulation of diesel prices, Sen said the demand for 80 per cent for diesel variants for cars has now come down to 50 per cent. However, there would not be much impact, as diesel variants give more mileage.”We will adopt the strategy, considering the market requirements,” Sen said.advertisementlast_img read more