Absolutely brutal. Yeah, this would be a great deal to have on your resume, but they are apparently going to finish the deal over the weekend.
Hope whatever Analyst is working on it values PE exit opps over watching the Super Bowl and having fun.
::blows brains out::
From BI:
Michael Dell is on a mission to take his $23 billion PC company private once again, and a deal could be struck as soon as Monday.
The final details are being worked out, Reuters reports, and everything is expected to be finalized over the weekend. Dell, the company's founder and CEO, will use up to $15 billion in debt financing to reclaim the company from Barclays, Bank of America Merrill Lynch, Credit Suisse and RBC Capital. Silver Lake Partners and Microsoft would become minority investors.
http://www.businessinsider.com/dell-could-be-a-private-company-as-soon-…
HAHAHA!
Dick move, Mikey.
If my team were in the Super Bowl and this went down, I might honestly just quit the firm. Nothing comes between me and the Giants.
...Nothing
Just imagine if you stayed up all weekend trying to get this deal closed, missed your team in the Super Bowl and the damn thing got pushed a few days, so it didn't close on Monday!! I would probably go B-A-N-A-N-A-S.
Regards
Haha, the best part is that it's incredibly likely that it would go down that way. I think I'd go absolutely ballistic in that case. That, or cry myself to sleep at night.
The worst part?
Who at JPM/Evercore/Perella, is on it... chances are its being run out of ... an SF office.
Guess they can wear a 49ers Jersey to the office.
Maybe.
I'm currently sleeping with a girl whose dad based in SF and is the head of tech banking at one of the BBs. His team didn't get it, but supposedly it IS an SF-based team working on the deal.
Edit: He didn't lock down the advisory mandate. Everyone is going to be on the debt.
^^ Yeah emails/calls have already been circulated on the street regarding the above (no will not state anything on the internet that is not already in public articles so thanks but no thanks), but basically the real question is did the garbage analyst work get outsourced to the lev-fin team or is someone wearing a 49ers jersey to the office.
Problem is mega deals like this are practically always pushed out. So someone is more likely than not going to get F'd for no reason this weekend... sucks for them but that resume will look good if they get it to go.
You guys are retarded. Superbowl is every year, Dell going private is once in a lifetime.
::shake my head::
You suppose that's also what the MD said when it was going public? LOL.
Regards
http://www.reuters.com/article/2013/02/01/us-dell-buyout-idUSBRE91009K2…
"Barclays is also advising Silver Lake on the transaction, along with Perella Weinberg Partners, said two of the people. JPMorgan Chase & Co is advising Dell."
"Dell has formed a special committee of its independent directors and hired Evercore Partners Inc to assess whether the company is getting the best deal for shareholders and not one that is just in the best interest of Michael Dell"
@puax - Tell that to Seagate. Ha.
It's more just a big hilarious combination of mega tech deal in SF when the 49ers hit the superbowl. Of course a no brainer any 22 y/o analyst or even associate should jump at that to help fast forward his career
JPM SF is working on it.
Sucks.
Why aren't GS or MS, the top 2 tech. groups, working on this?
GS MS don't have strong enough balance sheet to do this LevFin deal... lol well hope my friends at JPM SF don't get pissed their weekends are ruined...
That's what I thought. But considering GS/MS tech are top two in tech, was wondering why they didn't win the advisory role?
BAML Sponsors analyst told me they're on it.
Isn't JPM just doing advisory for Dell? OP's quote from Business Insider says that Barclays, Bank of America Merrill Lynch, Credit Suisse and RBC Capital are providing the financing. How would JPM's balance sheet have an impact if they are not providing any financing?
Sorry, just trying to get some clarification here.
Also, within Barclays, Bank of America Merrill Lynch, Credit Suisse and RBC Capital (the firms providing debt) - which groups would be on the deal? I would imagine sponsors, lev fin, any industry group? DCM?
Im surprised Quattrone isn't on this one
I believe Q's bread and butter is strategic sell-side M&A
I think on the hardware/enterprise software end -> JPM seems to be more active. I think MS is better for Internet/Digital Media having seen the deals that they've done. Perhaps it came down to expertise in the sub sectors within tech?
It's 7pm on Monday and the deal hasn't closed. Way to push the deal across the finish line.
Read that the board voted Monday night and will announce Tuesday morning.
TOO Low
This morning, Feb 5th, Dell stockholders approved a sale at $13.65 per share in cash. The price is 25 percent higher than Dell’s closing share price on Jan. 11 of $10.88, the last day before rumors of a take-private deal were published.
Shares were trading at $13.63 today, the day the deal was announced. (On Jan. 12, after reports of the sale were published, shares traded up to $13.17).
There's a 45 day "Go Shop" Agreement. Break-up fee: $180 MM.
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