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Dell’s stock soars on report of possible buyout
212-621-1500Associated Press
The Associated Press
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By The Associated Press
Published: Tuesday, January 15, 2013, 12:01 a.m.
Updated: Tuesday, January 15, 2013
Dell's stock soared 13 percent Monday on a report that the struggling personal computer maker is in talks to take the company private.
Bloomberg News said Dell has discussed a potential sale with at least two firms that specialize in buying companies whose stocks have fallen out of favor. The report didn't name the interested firms.
Dell Inc., based in Round Rock, Texas, declined to comment.
Any effort to take the company private would probably require the backing of Dell CEO and founder Michael Dell. He is the company's largest shareholder with a 15.7 percent stake.
A buyout would be expensive, despite a 30 percent drop in Dell's share price during the past year. Before buyout speculation drove up the stock price Monday afternoon, Dell's market value stood at about $19 billion.
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