Dell founder to take back company

Dell unveiled plans to go private in a $24.4 billion deal giving founder Michael Dell a chance to reshape the former number one PC maker away from the spotlight of Wall Street. “I believe this transaction will open an exciting new chapter for Dell, our customers and team members,” Michael Dell said in unveiling the deal with equity investment firm Silver Lake, and backed by a $2 billion loan from Microsoft. The move, which would delist the company from stock markets, could ease some pressure on Dell, which is cash-rich but has seen profits slump, as it tries to reduce dependence on the slumping market for personal computers.

Read more about Dell’s plans to go private on Rappler.