, Columnist
Dell’s Buyout Math Doesn’t Quite Compute
DVMT holders may have grounds to push for a better offer.
What’s it worth?
Photographer: Adam Berry/Bloomberg
This article is for subscribers only.
Dell Technologies Inc. seems to be taking a Donald Trump-like approach to determining its self-worth: bold statements, and not a lot of information to back them up.
This month, the computer and software giant announced a complicated plan to re-enter the public market about five years after its buyout by founder Michael Dell and Silver Lake. Dell is saddled with a boatload of debt and a messy capital structure, making a traditional IPO difficult. So instead, it will purchase the public tracking stock that it created to help finance its $67 billion buyout of EMC Corp. in 2016.