Michael Dell has finally received the news he’s been waiting for – after months of speculation, negotiations, bids and counterbids, lawsuits, backlash and uncertainty, Dell announced today that its shareholders have approved the nearly $25 billion buyout proposed by Michael Dell and global technology investment firm Silver Lake Partners. The approved deal is nearly $2 billion higher than the initial proposal made last winter, but satisfies Michael Dell’s wish to take the company private after nearly 25 years of being a publicly traded company. Dell hopes the move to the private sector will better facilitate the company’s future goals, as well as allowing them to move back to their roots and the “entrepreneurial spirit” that garnered Dell so much success in their early years.

 
The total buyout cost to Michael Dell and Silver Lake Partners totals $24.9 billion, and includes payments to shareholders of $13.75 per share plus a “payment of a special cash dividend of $0.13 per share to stockholders of record as of a date prior to the effective time of the merger”. This leaves shareholders sitting rather pretty, with a total consideration of $13.88 per share. Additionally, the agreement “guarantees the regular quarterly dividend of $0.08 per share for the fiscal third quarter would be paid to holders of record as of a date prior to closing”.

 
An individual familiar with the details of the Shareholder Special Meeting stated today that roughly 65 percent of the voting shares approved the buyout; quite a feat considering the obstacles that have been laid out to Dell and his partners. Several shareholders have voiced opposition to the deal since its inception, most notably investor Carl Icahn, who even went as far as to file a lawsuit against the Dell board. While Icahn is still against the deal, the majority rules in business as it generally does in life and the buyout should continue to move forward as planned.

 
While Michael Dell has yet to provide specifics on how he plans to modernize the company now that he has privatized it, research indicates that he has been gobbling up software and networking companies, racking up nearly $13 billion in acquisitions. After the results of today’s shareholder vote were announced, he held a conference call in which he stated he was beginning a “multiyear” endeavor to expand into new areas, some of which could include cloud computing and security services. This expansion into new markets is likely the driving force in his recent string of mergers and acquisitions with established companies in those fields. With the PC business still steadily declining, Dell will need to harness this sort of forward, outside-the-PC-box thinking to move Dell into the future of modern technology.

 
While the buyout is not expected to close until sometime around November 1st, the deal appears to be as good as done. Nevertheless, Dell shares will continue to trade until the deal officially closes. Once that happens, Michael Dell is expected to own roughly 75% of the company.