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Dell goes private in leveraged buyout; Dow Jones closes above 14,000; Student debt and delinquency rise; Regulators still stumped over Dreamliner; Nasdaq faces fines over Facebook IPO

Tech: Dell goes private in leveraged buyout

Michael Dell, the founder and CEO of Dell Computers, has struck a deal to take his company private for $24.4 billion—the largest leveraged buyout since the financial crisis, said Poornima Gupta and Nadia Damouni in Reuters.com. The deal, which requires shareholder approval, would end the PC manufacturer’s 24-year presence on public markets so it could revive its struggling fortunes “without Wall Street scrutiny.” The deal will be financed with cash from private equity firm Silver Lake, a $2 billion loan from Microsoft, debt financing from several banks, and the assets of Michael Dell, who founded the company in his college dorm in 1984.

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