Dell reboots the take-private market

Duncan Kerr
Published on:

The buyouts of Dell and Heinz are big but they share few characteristics of the classic jumbo LBO.

Lionel Assant, senior managing director and European head of private equity at Blackstone in London, says: "They are exceptions. Each deal has a specific equity story, which cannot be easily replicated on other $20 billion-plus deals in the market today."

Under the terms of the Dell buyout, Michael Dell will continue to hold a substantial stake in the company, and will remain its chairman and chief executive.

Dell is committing a mountain of cash to finance the deal, which, when...