Reuters: Global Markets: Dell's shares surge on report it's in talks to go private

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Dell's shares surge on report it's in talks to go private Jan 14th 2013, 20:02 Tweet Share this Email Print Related News Holiday PC sales dip for first time in five years Thu, Jan 10 2013 Exclusive: Private equity eyed Legg Mason but were spurned Thu, Jan 10 2013 Lenovo entering 'PC plus' era, CEO says Wed, Jan 9 2013 Intel bets big on thin PCs and phones at Las Vegas show Mon, Jan 7 2013 Analysis: Fiscal crisis seen hurting tech earnings Mon, Jan 7 2013 Analysis & Opinion Counterparties: 2013 — The year of meh Related Topics Tech » Deals » Global Deals Review: 2011 Q3 » Global Deals Review: 2011 Q2 » Global Deals Review » Hot Stocks » Asian Markets » Inflows Outflows » A man wipes the logo of the Dell IT firm at the CeBIT exhibition centre in Hannover February 28, 2010. Credit: Reuters/Thomas Peter SAN FRANCISCO | Mon Jan 14, 2013 3:02pm EST SAN FRANCISCO (Reuters) - Shares of Dell Inc soared 13 percent to a near eight-month high on Monday after Bloomberg reported the world's No. 3 PC maker is in talks with at least two private equity firms about going private. The discussions between the PC maker, which has steadily ceded market share to larger rival Hewlett Packard and China's Lenovo, and private equity are preliminary and financing has not been secured, Bloomberg cited two people with knowledge of the matter as saying. Dell said it does not comment on rumors or speculation. Like HP and Lenovo, Dell is grappling with dwindling demand for traditional desktop and laptop computers with the advent of tablets like Apple Inc's iPad. Sales of PCs over the holidays slid for the first time in more than five years, according to industry researcher IDC. The company, now reinventing itself as a provider of computers and services to corporations and government agencies, saw shipments of computers plummet 21 percent in the fourth quarter, according to IDC. In the third quarter, its profit slid 47 percent. Dell's fortunes have waxed and waned. In 2007, billionaire CEO Michael Dell - whose company was lauded as an early pioneer of just-in-time inventory management and online sales of custom-built computers -- returned to the company he founded to try and revive its business. The company's market value stood at about $19 billion before Monday's rally. Michael Dell now owns more than 14 percent of the company, according to Thomson Reuters data, and last year was ranked the 22nd richest American with a fortune of $14.6 billion. Dell's stock soared to an intra-day high of $12.83 in afternoon trade - the highest since May 2012 - after a brief trading suspension. It was recently up 13.3 percent at $12.33. (Reporting By Poornima Gupta; Editing by Bernard Orr) Global Deals Review: 2011 Q3 Global Deals Review: 2011 Q2 Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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