Dell’s founder and chairman has finally taken his company private in a $24.9bn takeover, making him the largest individual shareholder with a 14% stake.
With the overall buyout led by Michael Dell, the financing is led by the private equity firm Silver Lake Partners.
"Today, Dell enters an exciting new chapter as a private enterprise," the founder said.
"Our 110,000 team members worldwide are 100% focused on our customers and aggressively executing our long-term strategy for their benefit."
Dell stockholders will get about $13.75 in cash for each share they hold, in addition to a special cash dividend of $0.13 per share for total consideration of $13.88 per share.
In September, Dell shareholders approved Michael Dell’s $24.9bn buyout offer to take it private.
The PC maker has also started the process to delist its common shares from the NASDAQ stock market.
