Michael Dell Close to Buyout Deal: Reports

Tickers in this article: DELL MSFT

NEW YORK (TheStreet) -- Dell(DELL) shares crept up 0.75% to $13.37 in premarket trading Tuesday amid reports that the company's leveraged buyout could be imminent.

The Wall Street Journal reported on Tuesday that Dell CEO and founder Michael Dell is close to completing a $23 billion deal to take the No. 3 PC maker private. Citing people familiar with the matter, The Journal reports that late on Monday Dell was in talks with Microsoft(MSFT) and private-equity specialist Silver Lake in a deal to offer shareholders between $13.50 and $13.75 a share.

CNBC also reported early on Tuesday that a deal could happen early on Tuesday.

A buyout would help Dell re-invent itself, say analysts, boosting its push into lucrative areas such as enterprise services.

The Round Rock, Texas-based firm declined to comment on this story when contacted by TheStreet, saying that it doesn't comment on speculation.

Dell shares closed down 2.64% on Monday.

--Written by James Rogers in New York.

--Written by James Rogers in New York.

>To submit a news tip, send an email to: tips@thestreet.com.