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Dell: Shareholders Approve $24.9 Billion Buyout In Preliminary Tally

PC maker Dell says a preliminary vote shows shareholders approve a $24.9 billion buyout to go private.

The blessing from shareholders comes after a high-profile battle with billionaire Carl Icahn that forced Michael Dell and Silver Laker Partners to slightly sweeten their bid.

The mega leveraged buyout represents a bet by the company’s founder that the aging technology company can remake itself away from the harsh scrutiny of Wall Street into a more viable business that relies less on PC sales.

The transaction is expected to close before the end of Dell’s fiscal third quarter, the company said.

Fox Business

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