Founder Michael Dell to buy back Dell computers

  • Michael Dell announced on Tuesday he is to buy back the PC-maker that he founded and which carries his name.

    The buy-out will be carried out by a consortium made up of Dell himself, his own investment fund and Silver Lake.

    Dell will offer to buy the world’s third biggest PC-makeer for $24.4 billion. It will be financed by loans from four banks and by a $2 billion loan from Microsoft.

    The move will take Dell off the Nasdaq stock exchange after 25 years.

    Dell already owns about 14 percent of the firm. He and fellow senior executives are expected to retain their existing stakes.

    Dell's headquarters is located in Round Rock, Texas. Visit Texas Fast Facts