(NEW YORK) — The PC maker Dell will not be trading on the stock exchange in a few weeks.
The company’s founder, Michael Dell, and technology investment firm Silver Lake, have bought the company for $24.4 billion.
“I believe this transaction will open an exciting new chapter for Dell, our customers and team members,” Mr. Dell said. “We can deliver immediate value to stockholders, while we continue the execution of our long-term strategy and focus on delivering best-in-class solutions to our customers as a private enterprise.”
“Dell has made solid progress executing this strategy over the past four years, but we recognize that it will still take more time, investment and patience, and I believe our efforts will be better supported by partnering with Silver Lake in our shared vision,” he continued.
Stockholders will receive $13.65 per share, the company said.
The computer company wants to regroup without having to answer to investors.
Copyright 2013 ABC News Radio
Lois M. Collins, Deseret News
Nate Eaton, EastIdahoNews.com