Tag - Silver Lake
Dell has cleared its final hurdle to going private, by receiving regulatory approval. The PC producer has revealed it has received "all necessary pre-merger regulatory clearances" for the $25 billion buyout by Silver Lake Partnerships and Dell founder Michael Dell, with the deal expected to close before the end of the third quarter of Dell's financial year, November 1st
Dell will become a private company in the future, based on the preliminary tally of votes from a special meeting of stockholders. The approval, once confirmed, means that Michael Dell and private equity firm Silver Lake has succeeded in taking control from the company, following investor Carl Icahn backing down with his offer.
Blackstone Group is ending its offer for control of Dell, citing a 14-percent drop in PC sales for the first quarter of 2013 and a lower earnings forecast for the current financial year. The withdrawal of Blackstone leaves founder Michael Dell and equity partner Silver Lake to fight with Carl Icahn for ownership of the PC manufacturer.
In a preliminary proxy statement issued to shareholders on Friday, Dell warned that it would be a risky path for the company to take a lot of debt and remain public, assuming existing profit levels and market trends remain the same. The 274-page statement informs Dell shareholders of how the Silver Lake Partners deal was assembled, and why it feels the deal is the best of all the alternatives before the shareholders.
Since September, Yahoo has been searching for potential buyers for itself. Although there have been many potential suitors, with no apparent deal close at hand, the company is now refocusing itself on permanently filling the CEO slot, which has been vacant since Carol Bartz was fired abruptly three months ago. All Things D, citing its sources, claims that Yahoo's board is looking at Hulu's CEO Jason Kilar.
The latest bidder in the potential Yahoo takeover is Thomas H. Lee Partners, Reuters learned. THL is said to be looking at a leveraged buyout of Yahoo's US business, which could be worth between $5 and $6 billion. THL has run other media companies such as Nielsen Co, Clear Channel, and Univision.
Microsoft's rumored new attempt at buying Yahoo might just be a minority, non-exclusive stake, insiders reportedly slipped out Monday night. The Windows developer would be just one of multiple companies, including financial backers at Silver Lake and Andreessen Horowitz, aiming to buy a 20 percent stake in Yahoo. The New York Times in leaking details understood that offers had to be in by the end of Monday and could be discussed this week.
Yahoo will work with Goldman Sachs to help it defend a takeover bid, unnamed sources said in a Bloomberg Thursday report. While no bids have yet been made, AOL has been rumored to be putting together an offer. Private equity firms, bankers and some Yahoo investors have also been trying to takeover Yahoo with the help of AOL of News Corp, the sources said.
Now AAPL Stock: 93.64 ( -0.1 )
Maps adds transit for Rio Olympics
On Monday, Apple added public transit directions for Rio de Janeiro in Brazil to its Apple Maps program in advance of the 2016 Summer Olympics, which begin on August 5. The addition marks the first time a Brazilian city has gotten the upgraded public transit maps, which include station maps as well as transit schedules and tracking. The transit directions cover ferries as well as bus, subway, and light rail lines. The company has recently expanded transit directions to Montreal in Canada, and Seattle, Portand (Oregon), and other US cities.
Ive opens Met Gala fundraiser in NYC
On Monday, Apple SVP of Design Sir Jonathan Ive opened the press preview of the annual Met Gala fundraiser for the Metropolitan Museum of Art's Costume Institute in New York City. Ive is serving as co-chair with Vogue editor Anna Wintour, and Apple is helping sponsor the event, which is themed "Manus x Machina: Fashion in an Age of Technology." He said the company is "thrilled" to participate in the Gala, and tied the company to the theme by saying that Apple's goal "has always been to try to create objects as beautiful as they are functional," adding that the company is "only starting" on its path of making products "more personal." http://bit.ly/1Y3EHKg
Tim Cook on CNBC Mad Money tonight
Apple CEO Tim Cook will be making an hour-long appearance on CNBC's investment show Mad Money this evening at 6PM ET. Slated for discussion, according to CNBC, are "Apple's future in China, Cook's outlook on innovation, what's next for iPhone, the Apple Watch, growth of Apple services and whether there are any potential acquisitions coming, among others."
Dev hacks Windows 95 onto Apple Watch
A developer has created a YouTube video that shows off a working version of Windows 95 running (very slowly) on an Apple Watch. Creator Nick Lee says that the OS takes about an hour to boot on the Watch because it is running in emulation rather than natively. While the project has no practical value, it does demonstrate how powerful mobile devices are in comparison to computers from the beginning of this century, as well as illustrating how far computing has come in the last 15 years -- long before smartphones, tablets, the cloud, and many more innovations that have come about since. http://bit.ly/1Y3AS85
WhatsApp working on Mac desktop app?
Allegedly-leaked information from a WhatsApp beta enthusiast account on Twitter appears to suggest that the messaging service and app maker may be developing native Mac and Windows versions, allowing users who sign up with the service to text each other all over the world using either Wi-Fi or cellular data. The source of the documents is in question, but it would not be unusual for the service to expand onto Mac and Windows desktops. WhatsApp is currently available for iOS, Android, BlackBerry, Nokia, Symbian, and Windows Phone. http://bit.ly/1Ura0zN
Drake's Views an iTunes, Music exclusive
Drake's new album Views (formerly known as Views from the 6) has debuted on iTunes and Apple Music as an exclusive in the first week of its release. The singles Once Dance and Pop Style, however, are available elsewhere in the interim. Securing exclusives from leading artists has been a key strategy that Apple has adopted in trying to attract users to its services. Most notably, Taylor Swift's hugely popular 1989remains unavailable to users of competing services like Spotify or Tidal. http://apple.co/1NLwsSH
TSMC chip sales to Apple jump $2B in 2015
Apple A9 and A9X chip supplier TSMC saw sales to Apple jump $2 billion in 2015. TSMC's fabrication partnership with Apple on the A-series processor helped drive its revenue to $26.4 billion, up six percent over the previous year, although its dependence on Apple's chip orders meant that without its business, TSMC's revenue would have actually declined by two percent. The Taiwan-based chip maker is currently sharing Apple's A9-series chip supplies with Samsung, although is rumored to be gaining all Apple's orders for the next-generation Apple A10 chips. http://bit.ly/24tCE6e