Dell buyout talks advance, Silver Lake lines up banks
Posted on: 11:38 AM IST Jan 16, 2013
New York: Talks to take Dell Inc private are at an advanced stage with at least four major banks lined up to provide financing, two sources with knowledge of the matter told Reuters, propelling shares of the No. 3 computer maker 7 percent higher.
Buyout firm Silver Lake Partners, which is leading the deal, tapped Credit Suisse, Bank of America Merrill Lynch, Barclays and RBC late last year to finance a potential deal, the sources said on condition of anonymity, because details have not been made public.
JPMorgan is advising Dell on a potential buyout of the $19 billion company, which would be one of the largest deals since the global recession.
It will also allow Dell, which has been trying to become a one-stop shop for corporate technology needs as the PC market shrinks, to conduct that difficult makeover away from public scrutiny.
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