Information provided by Theflyonthewall.com Dell's
) expected "go private" deal was officially announced, as private equity firm Silver Lake and Michael Dell agreed to buy the world’s third-largest PC company for $13.65 in cash, or about $24.4 billion.
As widely speculated, the financing for the deal includes a $2 billion loan from Microsoft
). Dell shares, which had risen about 22% over the last month amidst the going private chatter, were up another 0.8% to $13.38 following the announcement.
Among companies reporting earnings last night and this morning, advancers included CSC
), Estee Lauder
), Archer Daniels
), while Yum! Brands
), Arch Coal
), and Baidu
Among the notable gainers was Virgin Media
), which rose over 16% amid media reports that the company is in talks to be taken over by Liberty Global
). Virgin Media confirmed that it is in discussions with Liberty Global concerning a possible transaction, but did not provide any details on the nature of the talks or time frame for an expected resolution. Shares of Liberty Global slid about 3% following Virgin's confirmation.
Also lower were shares of McGraw-Hill
), which followed yesterday's nearly 14% slide with another 5% decline after the DOJ confirmed it is suing Standard & Poor's for alleged fraud in rating mortgage-based securities.
(Microsoft owns and publishes Top Stocks, an MSN Money site.)