精品国产_亚洲人成在线高清,国产精品成人久久久久,国语自产偷拍精品视频偷拍

????據(jù)彭博社（Bloomberg）報道，邁克爾?戴爾正在試圖獲得對戴爾公司（Dell Inc.）的多數(shù)控制權(quán)。目前，這家個人電腦制造商正在與銀湖合伙基金（Silver Lake Partners）和微軟（Microsoft）進行私有化談判。另據(jù)報道，科比?布萊恩特仍希望在平局比賽中投出絕殺。

????說實話，有人有過不同想法嗎？

????最初，人們都認為，邁克爾?戴爾將滾轉(zhuǎn)他目前持有的15.74%的股份。之后，我們得知權(quán)益總額（不包括戴爾持有的股份）約為50億美元。即便微軟與銀湖各自拿出20億美元——雖然我并不認為銀湖真的會這么做，除非它能夠利用某些資金回收——但最終的資金缺口仍高達10億美元。

????這正是邁克爾?戴爾的機會——這意味著他將出資超過40億美元（超過微軟與銀湖出資的總額）。

????而從更為本質(zhì)的角度來看，邁克爾?戴爾從來沒說過要放棄對公司的控制權(quán)。如果公司被收購，他或許可以繼續(xù)擔任戴爾的董事長兼CEO，但屆時，他的命運將掌握在銀湖手中。或者要看銀湖將戴爾轉(zhuǎn)售給誰。他肯定不希望發(fā)生這樣的事情。

????實際上，有知情人士稱，邁克爾?戴爾堅持對公司的永久控制，也是許多私募股權(quán)并沒有認真對待這次機會的原因之一。不僅是因為他們希望邁克爾?戴爾出局，也是因為他們希望能夠掌握主動權(quán)，如果有朝一日自己改變了想法，可以將他一腳踢開。

????對于邁克爾?戴爾來說，這并不是一個打擊。他創(chuàng)立了戴爾公司，是公司最大的股東。同時，他堅信，要幫助公司適應這個PC日漸式微的世界，他本人才是正選。相反，對于那些以為他會心甘情愿讓別人決定自己與公司命運的那些人來說，這才是一個沉重的打擊。（財富中文網(wǎng)）

????譯者：劉進龍/汪皓

????Bloomberg is reporting that Michael Dell is seeking majority control of Dell Inc. (DELL), the PC maker that is in talks to be taken private by Silver Lake Partners and Microsoft (MSFT). In other news, Kobe Bryant still wants to take the last shot in a tied game.

????Seriously, did anyone ever think different?

????For starters, it was always assumed that Michael Dell would roll over his existing 15.74% position. Next, we knew that the total equity check (excluding Dell's shares) would need to be around $5 billion. Even if Microsoft and Silver Lake each pumped in $2 billion -- something I don't believe Silver Lake can actually do, save for possibly utilizing some fund recycling provisions -- that would still leave a $1 billion gap.

????That's where Michael Dell would come in -- meaning that he would contribute more than $4 billion in value (i.e., more than Microsoft and Silver Lake combined).

????From a more qualitative perspective, Michael Dell has never suggested a willingness to give up the reins. He could have remained Dell's chairman and CEO following a buyout, but his job security would have been subject to Silver Lake's continued approval. Or that of whoever Silver Lake sold Dell to down the line. That just isn't happening.

????In fact, sources tell me that Michael Dell's insistence on eternal control was one reason why a number of private equity firms didn't look seriously at the opportunity. Not because they didn't want Michael Dell involved -- but because they wanted the option of dumping him if they someday changed their mind.

????None of this is a knock on Michael Dell. He founded Dell, is its largest shareholder and believes he's the right man to help it adapt to a PC-light world. Instead, it's a knock on anyone who thought he'd voluntarily let someone else determine his fate, or that of his company.