News Breaks |
|
|
| February 5, 2013 |
| 09:27 EDT |  | DELL, MSFT | Dell to be taken private by Michael Dell, Silver Lake at $13.65 per share
Dell (DELL) announced it has signed a definitive merger agreement under which Michael Dell, Dell’s founder and CEO, in partnership with investment firm Silver Lake, will acquire Dell. Under the terms of the agreement, Dell stockholders will receive $13.65 in cash for each share of Dell common stock they hold, in a transaction valued at approximately $24.4B. The buyers will acquire for cash all of the outstanding shares of Dell not held by Mr. Dell and certain other members of management. The Dell board acting on the recommendation of a special committee of independent directors unanimously approved a merger agreement. The merger agreement provides for a so-called "go-shop" period, during which the Special Committee – with the assistance of Evercore Partners – will actively solicit, receive, evaluate and potentially enter into negotiations with parties that offer alternative proposals. The initial go-shop period is 45 days. A successful competing bidder who makes a qualifying proposal during the initial go-shop period would bear a $180M termination fee. For a competing bidder who did not qualify during the initial go-shop period, the termination fee would be $450M. Following completion of the transaction, Mr. Dell, who owns approximately 14% of Dell’s common shares, will continue to lead the company as CEO and will maintain a significant equity investment in Dell by contributing his shares of Dell to the new company, as well as making a substantial additional cash investment. The transaction will be financed through a combination of cash and equity contributed by Mr. Dell, cash funded by investment funds affiliated with Silver Lake, cash invested by MSD Capital, a $2B loan from Microsoft, rollover of existing debt, as well as debt financing that has been committed by BofA Merrill Lynch, Barclays, Credit Suisse and RBC Capital Markets, and cash on hand. There is no financing condition. The transaction is expected to close before the end of Q2 of Dell's FY14. |
|
|
News For DELL;MSFT From The Last 14 Days Check below for free stories on DELL;MSFT the last two weeks. |
|
|
| May 21, 2013 |
| 15:40 EDT | | MSFT | GameStop off lows after Microsoft says Xbox One will allow resale of games
 Subscribe for More Information |
|
| 15:39 EDT | | MSFT | Microsoft says Xbox One will allow resale, trade-in of games, Bloomberg says
Subscribe for More Information |
|
| 15:24 EDT |  | MSFT | Microsoft Xbox One seems to restrict used games, Kotaku says
Microsoft's (MSFT) Xbox One won't require an "always-on" Internet connection, but could very well block used games, Kotaku said, based on a company response given to a question posed by Wired. The Fly notes that GameStop (GME) shares are down 4.75% to $36.92 in late day trade following Microsoft's Xbox One event. Reference Link |
|
| 14:18 EDT | | MSFT | Electronic Arts announced EA Sports Ignite for Xbox One
Subscribe for More Information |
|
| 14:16 EDT | | MSFT | Microsoft announces Xbox One
Subscribe for More Information |
|
| 14:12 EDT | | MSFT | NVIDIA announces PhysX support for Microsoft Xbox One
Subscribe for More Information |
|
| 14:05 EDT | | MSFT | Microsoft, NFL in multiyear agreement
Microsoft and the National Football League announced a multiyear partnership that will deliver a unique, interactive NFL television experience for the next-generation Xbox One and leverage Microsoft devices and services to evolve the in-game, sideline experience for coaches, players and other personnel. The agreement provides Microsoft with the rights to create exclusive interactive experiences through products such as Xbox One and Surface. As part of the partnership, Surface by Microsoft branding will appear on NFL sidelines, including on the hoods of the official on-field NFL instant replay stations. As part of the relationship, Microsoft will be granted the following designations: Xbox remains "The Official Game Console of the NFL" and will also become "The Official Interactive Video Entertainment Console"; Microsoft is "The Official Sideline Technology Sponsor of the NFL"; Surface by Microsoft and Windows are "The Official Tablet and PC Operating System of the NFL." |
|
| 13:54 EDT | | MSFT | Activision's Call of Duty downloadable content will come first to Xbox One
Subscribe for More Information |
|
| 13:50 EDT | | MSFT | Microsoft announces partnership with National Football League
Subscribe for More Information |
|
| 13:48 EDT | | MSFT | Microsoft announces live action Halo television series
Steven Spielberg to be involved with Halo series. |
| |
| 13:30 EDT | | MSFT | Electronic Arts says starting new strategic partnership with Microsoft
Subscribe for More Information |
|
| 13:24 EDT | | MSFT | Microsoft unveils 'Xbox One' featuring voice, gesture control
Microsoft says next-generation video game system, to be called "Xbox One," will be an all-in-one system for entertainment. Says newly redesigned Kinect will allow for voice and gesture control of device. Information from live blog of Xbox event. |
|
| 10:59 EDT |  | MSFT | Microsoft to hold a company event
Subscribe for More Information |
|
| 09:48 EDT |  | MSFT | Microsoft breakout continues, levels to watch
Subscribe for More Information |
|
| 07:25 EDT |  | MSFT | Microsoft price target raised to $40 from $33 at UBS
UBS believes Microsoft's shares can continue to move higher driven by improved earnings visibility, cloud momentum, a bottom in PC weakness, enterprise strength, and expectations for a seasonally strong 2H 2013. As a result, the firm reiterates its Buy rating and raised its price target to $40 from $33. |
|
| 06:39 EDT | | MSFT | Microsoft to begin shipping volume shipments of new Xbox in Q3, Digitimes says
Subscribe for More Information |
|
| May 20, 2013 |
| 16:55 EDT | | DELL | S&P lowers Dell ratings to 'BBB' from 'A-', remains on watch negative
Standard & Poor's Ratings Services lowered its corporate credit and senior unsecured debt ratings on Dell to 'BBB' from 'A-', and its commercial paper rating to 'A-2' from 'A-1'. All ratings remain on CreditWatch, where they were placed with negative implications on Feb. 5. The initial CreditWatch listing reflected S&P's assessment that the $24.4B going private transaction, which includes a substantial portion of debt financing, will materially degrade Dell's financial risk profile, which S&P currently view as modest. Although Carl Icahn submitted a non-binding alternative acquisition proposal, the Michael Dell and Silver Lake Partners LBO proposal remains the only transaction that has been approved by Dell's board of directors. S&P's review of the LBO transaction terms and the company's ownership, business and financial strategy may also result in a downward revision of its assessment of Dell's business risk profile. |
|
| 11:14 EDT | | DELL | Dell to deliver public cloud through partner ecosystem
Subscribe for More Information |
|
| 08:40 EDT | | MSFT | Barnes & Noble could rise above $30 a share, Barron's says
Barnes & Noble (BKS) shares are up about 15% since TechCrunch said Microsoft (MSFT) may pay $1B for its Nook e-reader business but the stock may have another 50% upside to $30 per share based on Barnes & Noble's asset value, contended Barron's in a report this weekend. Barron's, however, called the situation "admittedly tough to assess" because neither Microsoft nor B&N will comment on the purchase rumor. The Fly notes Barnes & Noble shares are up 4% to $20.80 in pre-market trading. Reference Link |
|
| 07:42 EDT | | MSFT | Cohasset Associates to host a conference
National Conference on Managing Electronic Records is being held in Chicago on May 20-22. |
| |
|
|
|
|
