Its figures were ahead of analysts expectations, but still shows the drop in Dell's consumer business. The company reported an 11 percent drop in revenue to $14.3 billion over the quarter. Net profit dropped 31 percent compared to the same period the previous year, to $530 million.
Michael Dell, founder and CEO of Dell Inc., is proposing a buyout of the company that will take it into private ownership. He is joined by equity firm Silver Lake, and is helped with a 10-figure loan from Microsoft and financing from several major lenders.
The buyout, which would be worth $24.4 billion, is being contested by some Dell shareholders, including its largest independent shareholder, Southeastern Asset Management. Its position is that the figure grossly undervalues the company.
Written by: James Delahunty @ 19 Feb 2013 22:54
