A $24 billion deal to take computer maker Dell private faces one last hurdle: The company’s board is voting on the offer tonight, Bloomberg reports.According to multiple reports, Silver Lake, a buyout firm will invest $1 billion or more; Microsoft will invest $2 billion; and founder Michael Dell will contribute his 16 per cent ownership of the current company and $700 million for a majority stake.
The deal will also be backed by $15 billion in debt.
Besides Michael Dell, who’s the board chairman, Dell’s board includes Facebook investor Jim Breyer, former American Airlines CEO Don Carty, and Ross Perot Jr., among others.
Silver Lake is known for doing big technology deals like the 2000 leveraged buyout of hard-drive maker Seagate Technologies.
Dell’s cash holdings—largely overseas—also figure into the deal’s value.
If the board approves the deal, it could be announced Tuesday morning.