Dell Inc.'s board was expected to vote late Monday night on an offer, led by founder Michael Dell, to take the company private for about $24 billion, people with knowledge of the matter said.
The deal may be announced early Tuesday, said the people, who asked not to be identified because the process is private. The offer values Dell at $13.50 to $13.75 a share, two of the people said.
Shares of the Round Rock, Texas, personal-computer maker fell 36 cents, or 2.6%, on Monday to close at $13.27, giving it a market value of about $23 billion.
Silver Lake Management would invest more than $1 billion in the buyout, and Microsoft Corp. about $2 billion, one of the people said. The person said Chief Executive Michael Dell would contribute his 15.7% stake, valued at more than $3.6 billion, and cash, giving him the largest stake. Several banks would lend a total of $15 billion.