Dell Taken Private in $24B Deal

    The sun is reflected in the exterior of Dell Inc.'s offices in Santa Clara, Calif., Tuesday, Aug. 21, 2012.  Dell Inc.ís announced Tuesday, Aug. 21, 2012, that its earnings slump deepened in its latest quarter as the growing popularity of smartphones and tablet computers undercut sales of its desktop and laptop computers. (AP Photo/Paul Sakuma)

    Paul Sakuma / AP Photo

    Following a late-night meeting between Dell's board of directors, the No. 3 computer maker announced Tuesday morning that it has agreed to go private.The $24 billion transaction—the largest leveraged buyout since the financial crisis—is being led by founder and CEO Michael Dell. In the weeks leading up to the decision, Dell was rumored to be "increasingly worried about his legacy," a reflection of his failure to implement necessary changes needed to turn a profit. Microsoft is also part of the investment consortium, donating a handsome $2 billion to help keep one of its key partners alive. 

    Read it at CNBC