CDW goes private for $7.3bn
Bid premium etc.
Posted in IT Channel, 30th May 2007 00:45 GMT
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CDW, the big US computer dealer, is selling itself to a private equity firm for $7.3bn. That's a 16.1 per cent premium over CDW's closing price on Friday.
The deal is an all- Illinois affair - CDW is based in Vernon Hills and its prospective new owner, Madison Dearborn Partners LLC, hangs out in Chicago.
Approval from shareholders and regulators is required, but Madison Dearborn starts off with a huge advantage: CDW founder Michale Krasney controls 22 per cent of the stock and he is voting in favour of the takeover.
Founded in in 1984, CDW employs more than 5,500 staff. Last year, it generated net income of $266.1m on sales of $6.8bn. ®
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