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TMCNet:  Silver Lake sets sights on Dell deal

[January 18, 2013]

Silver Lake sets sights on Dell deal

Jan 18, 2013 (Daily Mail - McClatchy-Tribune Information Services via COMTEX) -- COMPUTER giant Dell is in the sights of a private equity-led consortium planning a pounds sterling 16bn buyout, it was reported yesterday.

US-based buyout group Silver Lake is said to be leading a group of investors who are planning to raise pounds sterling 9bn to help finance a deal that would see them take over Dell, the world's third largest computer maker.

It was reported that Barclays, Bank of America and Credit Suisse were among the lenders drawing up plans.

Dell, which has lost a third of its stock market value during the last year, is struggling to compete with tablet makers such as Apple.

It is believed that removing itself from the public market will give it greater dexterity when trying to revamp its operations.

Some of the money for the deal could be provided by Dell's chief executive Michael Dell, who is also the group's biggest shareholder with a 15.7pc holding. He was one of the early investors in Silver Lake's initial fund.

If successful, the deal would be the biggest technology buyout since the financial crash, and the largest in the computer industry since HP bought laptop maker Compaq for pounds sterling 12bn more than a decade ago.

Dell refused to comment.

___ (c)2013 Daily Mail (London, ) Visit the Daily Mail (London, ) at Distributed by MCT Information Services

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