久久久无码人妻精品无码_6080YYY午夜理论片中无码_性无码专区_无码人妻品一区二区三区精99

US EUROPE AFRICA ASIA 中文
Business / Companies

Dell looking for white knight's buyout

By Bloomberg News in New York (China Daily) Updated: 2013-01-21 11:17

Dell Inc, the personal-computer maker that lost almost a third of its value last year, is in buyout talks with private-equity firms, two people with knowledge of the matter said. The company shares have surged as a result.

The company is discussing going private with at least two firms, said one of the people, who asked not to be identified because the talks are private. The discussions are preliminary and could fall apart because firms may not be able to line up the needed financing or resolve how to exit the investment in the future, the people said.

Dell looking for white knight's buyout

Dell Inc, the personal-computer maker that lost almost a third of its value last year, reported a 47 percent drop in net profit during the third quarter compared with the same period in the previous year.

Several large banks have been contacted about financing an offer, one of the people said. The computer maker had a market value of $18.9 billion as of Jan 11.

Taking the company private could help Dell, the third-largest PC maker, accelerate efforts to revive growth and cope with competition without quarter-by-quarter scrutiny from public shareholders.

Chief Executive Officer Michael Dell, 47, has been using acquisitions to sell more products to businesses as consumers shun PCs in favor of tablets and smartphones, including devices that run Apple Inc and Google Inc software.

"The stock has not done much, and he's under pressure to boost numbers," said Abhey Lamba, an analyst at Mizuho Securities USA Inc. "He wants to de-emphasize about two-thirds of his business, and that's a hard strategy to push because it would mean overall revenue will shrink."

Stock, bonds

Dell shares jumped 13 percent after the news and closed at $12.29 in New York on Jan 14. Dell's bonds fell to the lowest level in 19 months, while the cost of protecting the company's debt from losses, as reflected in five-year credit-default swaps, surged. David Frink, a spokesman for Round Rock, Texas-based Dell, declined to comment.

Michael Dell founded the company in 1984 in his University of Texas dorm room with $1,000 when he was 19. He catapulted it to the top of the industry by cobbling together PCs from off-the-shelf parts and delivering them directly to consumers at a lower cost than rivals, including International Business Machines Corp. Dell lost the top spot to Hewlett-Packard Co in 2006 and more recently has struggled to contend with new competitors, including Apple, in the consumer market.

The chief executive officer owns 15.7 percent of the company, making it easier for firms to put together equity financing for the deal, one of the people said.

Michael Dell has a net worth of $13.7 billion and ranks 65 on the Bloomberg Billionaire Index. MSD Capital LP, his investment-management firm, oversees about $9 billion, according to Bloomberg estimates. Dell could use part of that wealth to help finance the transaction.

Low valuation

The company's enterprise value of $19.1 billion is 4.4 times earnings before interest, taxes, depreciation and amortization for the last 12 months, according to data compiled by Bloomberg. That's a lower valuation than every computer- hardware maker larger than $1 billion, except Hewlett-Packard Co, which has a multiple of 3.5, the data show.

Based on Dell's market value as of Jan 11, a deal could be at least the largest buyout of a technology company since 2007, when KKR & Co bought First Data Corp for more than $25 billion, according to data compiled by Bloomberg. It could also be the largest acquisition in the computer industry since Hewlett-Packard bought Compaq Computer Corp. for about $19 billion in 2002, the data show.

News of the buyout talks sent ripples across the technology industry, fueling gains in the shares of Hewlett-Packard, Lexmark International Inc. and Western Digital Corp.

Large leveraged buyouts have been scarce since the financial crisis. Other technology companies, including disk- drive maker Seagate Technology Plc, have attempted to go private and had the talks fall through over valuations or difficulty in financing deals.

Goldman Sachs Group Inc upgraded the stock to 'buy' in December, saying that Dell's net cash balance presents an opportunity for a leveraged buyout.

While demand for PCs has declined, Dell's net cash balance of $5.15 billion provides "some downside buffer as it produces opportunity for an LBO or levered recap under the right conditions," Bill Shope, an analyst at Goldman Sachs, wrote in the report. "Dell has become an attractive deep value play and we would be buyers of the stock."

Michael Dell, who retook the CEO position in 2007, said in 2010 he had considered taking the company private.

Hot Topics

Editor's Picks
...
久久久无码人妻精品无码_6080YYY午夜理论片中无码_性无码专区_无码人妻品一区二区三区精99

    污污视频网站免费观看| 欧美aaa在线观看| 超薄肉色丝袜足j调教99| 日本黄网站免费| 国产大尺度在线观看| 国产主播在线看| 99热这里只有精品免费| 国产一级特黄a大片免费| 久久亚洲精品无码va白人极品| 99视频在线免费| 青青草综合视频| 国产亚洲视频一区| 国产在线观看福利| 成人免费看片'免费看| 爽爽爽在线观看| 国产无套粉嫩白浆内谢的出处| 熟女视频一区二区三区| jizz大全欧美jizzcom| 国产精品动漫网站| 成年人免费观看的视频| 乱熟女高潮一区二区在线| 国产福利在线免费| 精品人妻一区二区三区四区在线 | 免费在线激情视频| 久久www视频| 成年人在线看片| 国产黄色片免费在线观看| 91网址在线观看精品| 亚洲最大综合网| 成人观看免费完整观看| 国产素人在线观看| 久久艹国产精品| 欧美激情亚洲天堂| 强伦女教师2:伦理在线观看| www.色就是色.com| 天天做天天干天天操| 五月天婷婷亚洲| www.夜夜爽| 黄色aaa级片| 国产又大又黄又粗的视频| 国产精品69页| 五月天婷婷激情视频| 成人在线观看a| 农村妇女精品一二区| 春日野结衣av| 无码aⅴ精品一区二区三区浪潮| 国产黄页在线观看| 日韩国产欧美亚洲| 无码精品a∨在线观看中文| 欧美色图色综合| 久久人人爽人人片| 激情婷婷综合网| 熟妇人妻无乱码中文字幕真矢织江| 日韩手机在线观看视频| 日韩欧美xxxx| 五月婷婷激情久久| 日韩av.com| 91香蕉国产线在线观看| 成人在线免费观看网址| 日本黄色片一级片| 欧美一级在线看| 亚洲xxxx2d动漫1| 污网站在线免费| 性做爰过程免费播放| 99久久久精品视频| 日日碰狠狠添天天爽超碰97| 国产视频一区二区三区在线播放| 一路向西2在线观看| 一区二区三区四区毛片| www婷婷av久久久影片| 日日碰狠狠添天天爽超碰97| 国产又猛又黄的视频| 三年中文在线观看免费大全中国| 国内外成人激情免费视频| av高清在线免费观看| 久草综合在线观看| 色乱码一区二区三区熟女| www.av蜜桃| 9久久婷婷国产综合精品性色| 国产精欧美一区二区三区白种人| 国产精品8888| 国产精品无码一本二本三本色| 亚洲精品20p| 丁香六月激情婷婷| 午夜免费高清视频| japanese在线播放| 日韩亚洲在线视频| 粉嫩av一区二区三区天美传媒| 黄www在线观看| 青青视频免费在线| 日本久久久网站| 少妇高清精品毛片在线视频| 日日干夜夜操s8| 日本中文字幕一级片| 日本wwww视频| 偷拍盗摄高潮叫床对白清晰| 精品国产一区三区| 手机av在线网站| aa在线观看视频| 深夜做爰性大片蜜桃| 可以在线看的黄色网址| 91免费视频黄| 黄色片在线免费| 国产一区二区三区小说| www.99r| 中国丰满熟妇xxxx性| 天天干天天草天天| 国产精品久久中文字幕| 九九九久久久久久久| 亚洲欧洲日产国码无码久久99| 秋霞在线一区二区| 亚洲成人福利在线观看| 成人免费视频91| 色撸撸在线观看| 黄色片在线免费| 免费在线观看亚洲视频| 国产日韩欧美大片| gogogo高清免费观看在线视频| 国产精品无码一区二区在线| 亚洲精品在线视频播放| 亚洲乱码国产一区三区| 国产精品专区在线| japanese在线播放| 久久久久久久久久久久久久久国产| 丰满少妇被猛烈进入高清播放| 色婷婷综合久久久久中文字幕 | 国产精品人人妻人人爽人人牛| 毛片在线视频观看| 天美一区二区三区| 日本人视频jizz页码69| 久草青青在线观看| 久色视频在线播放| 女人被男人躁得好爽免费视频 | 国产av麻豆mag剧集| 永久免费看av| 一本二本三本亚洲码| 99re6在线观看| 波多野结衣xxxx| 久久久精品麻豆| 激情综合网婷婷| 国产高清精品在线观看| www.av中文字幕| 国产美女在线一区| 久草视频国产在线| 日韩 欧美 视频| 国产女主播自拍| 日韩精品在线视频免费观看| 成人免费a级片| 日本免费a视频| 99色这里只有精品| 阿v天堂2018| 国产精品自拍片| 337p粉嫩大胆噜噜噜鲁| 欧美精品一区免费| 妺妺窝人体色www在线小说| 青青视频在线播放| 日韩精品一区二区三区色欲av| 91免费视频网站在线观看| av免费播放网址| 成人黄色一区二区| 午夜国产一区二区三区| 国产高潮免费视频| 亚洲污视频在线观看| 欧洲熟妇精品视频| 乌克兰美女av| 91日韩精品视频| 无码毛片aaa在线| 超碰成人免费在线| 97国产精东麻豆人妻电影| 夫妻免费无码v看片| 黑人粗进入欧美aaaaa| jizz18女人| 2025韩国大尺度电影| 欧美日韩中文字幕在线播放| 免费超爽大片黄| 日本一极黄色片| 亚洲欧美日本一区二区| 国产专区在线视频| 噜噜噜久久亚洲精品国产品麻豆| 欧美精品第三页| 免费成人黄色大片| 欧美国产视频一区| 人妻少妇被粗大爽9797pw| 中文av一区二区三区| 欧美 国产 精品| 中文字幕无码精品亚洲35| 日本888xxxx| 99中文字幕在线观看| 欧美日韩二三区| 日本xxxx黄色| 在线观看污视频| 人妻精品无码一区二区三区| 黄大色黄女片18第一次| 超碰超碰超碰超碰超碰| 成人观看免费完整观看| 亚洲一区精品视频在线观看| 国产成人一区二区三区别| 爆乳熟妇一区二区三区霸乳| 五月天国产视频| 岳毛多又紧做起爽|