Michael Dell and affiliates of the firm that manages his wealth will collectively put $750 million toward the $24.4 billion takeover of computer maker Dell Inc, the company disclosed in a regulatory filing on Wednesday.Michael Dell, founder of the company, will contribute $500 million cash and MSDC Management, an affiliate of his MSD Capital, will contribute $250 million, Dell Inc said.Silver Lake, a private equity firm partnering with Michael Dell on the deal, is putting up $1.4 billion.Dell, the world's No. 3 personal computer maker, also broke down details of the debt financing secured for the buyout, including $4 billion in senior secured term loans from Bank of America, Barclays, Credit Suisse and RBC.
Bank of America Corporation (Bank of America) is a bank holding company, and a financial holding company. Shares of BAC traded higher by 0.42% or $0.05/share to $11.93. In the past year, the shares have traded as low as $6.72 and as high as $12.20. On average, 160568000 shares of BAC exchange hands on a given day and today's volume is recorded at 173411344.
Dell, Inc. (Dell) is a global information technology company that offers its customers a range of solutions and services delivered directly by Dell and through other distribution channels. Shares of DELL traded higher by 0.75% or $0.1/share to $13.52. In the past year, the shares have traded as low as $8.69 and as high as $18.36. On average, 36091200 shares of DELL exchange hands on a given day and today's volume is recorded at 77660912.
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