Equity in Dell Inc. was neither bought nor sold at a public market exchange Wednesday for the first time since 1988 as the Nasdaq Stock Market delisted its DELL ticker symbol because the acquisition of the former highflier in the home-technology space was completed by its founder, Chairman, and CEO Michael S. Dell and the technology investment firm Silver Lake Partners.
According to a Dell statement Tuesday: “[S]tockholders will receive $13.75 in cash for each share of Dell common stock they hold, plus payment of a special cash dividend of $0.13 per share to stockholders of record as of the close of business on Oct. 28, 2013, for total consideration of $13.88 per share in cash. The total transaction is valued at approximately $24.9 billion.” At the beginning of the Dot-Bomb Era, the company’s share price, adjusted for dividends and splits, hit its all-time closing high of $56.23 on March 22, 2001. It closed its final day of trading at $13.86.
Five of the six years between 2001 and 2006, the technology research firm Gartner reported Dell ranked No. 1 in global personal-computer market share by percentage of units sold. The Round Rock, Texas-based company is unlikely to scale such lofty heights in the global PC market again as the firm has indicated on multiple occasions it will continue to emphasize business-to-business efforts over business-to-consumer initiatives as it moves to private from public ownership.
Nonetheless, Dell’s current product lines still include home-technology offerings, such as desktop, laptop, and tablet PCs; peripheral devices like monitors and printers; and television sets.