Personal computer maker Dell Inc. announced Tuesday that the company is going to go private in a $24.4 billion deal.
FOX Business Network’s Dennis Kneale reports:
FOX on Tech.
It’s the end of an era for Michael Dell, the enormously successful entrepreneur who founded Dell Computer from his dorm room. Dell will lead a $24.4 billion buyout of his namesake, bidding farewell to a Wall Street that had spurned his stock long ago.
Dell helped fuel the PC revolution. And his soaring stock price in the 90’s made thousands of investors millionaires. But he got blindsided by the iPhone revolution. The stock was at $50 the start of the decade, hit $30 in ’07, it’s now below $15. And some say, Michael is getting the PC giant on the cheap.
In New York, Dennis Kneale, FOX News Radio.