Dell's $24.4 billion buyout deal, led by founder and Chief Executive Michael Dell, is in the best interest of shareholders, the company's board of directors said in a filing with the U.S. Securities and Exchange Commission Monday.
"The transaction offers an attractive and immediate premium for stockholders and shifts the risks facing the business to the buyer group," the board said in its filing. "In addition, and importantly, the go-shop process provides stockholders an opportunity to determine if there are alternatives that are superior to the present offer."
The board considered a number of strategic alternatives, according to the filing. In addition to working through financial and capital allocation issues with its financial advisors, it retained a consultant to help it assess the company's strategic position. Based on its findings, the board said, "the proposed all-cash transaction is in the best interests of stockholders."