Dell Inc. neared an agreement on Monday to sell itself to a group led by its founder and the investment firm Silver Lake for more than $23 billion, people briefed on the matter said, in what would be the biggest buyout since the financial crisis.
If completed, a takeover would be the most ambitious attempt yet by Michael Dell to revive the company that bears his name. Such is the size of the potential deal that Dell has called upon Microsoft, one of his most important business partners, to shore up the proposal with additional financial muscle.
The question will now turn to whether taking the personal computer maker private will accomplish what years of previous turnaround efforts have not.
Final details were being negotiated on Monday evening, and a deal could be announced as soon as Tuesday. Still, last-minute obstacles could cause the talks to collapse, the people briefed on the matter cautioned.
The consortium is expected to pay between $13.50 and $13.75 a share, these people said. Dell is expected to contribute his nearly 16 percent stake to the deal, worth about $3.8 billion under the current set of terms. He is also expected to contribute hundreds of millions of dollars in fresh capital from his own fortune.
Silver Lake, known as one of the biggest investors in technology companies, would likely contribute about $1 billion, these people added. Microsoft is expected to put in about $2 billion, though that would likely come in the form of preferred shares or debt.
Dell is also expected to bring home some of the cash that it holds in offshore accounts to help with the financing.
A spokesman for Dell declined to comment.
