Dell's stock soars on report of possible buyout
ROUND ROCK, Texas (AP) -- Dell's stock is soaring 13 percent on a Monday report that the struggling personal computer maker is in talks to take the company private.
Bloomberg News says Dell has discussed a potential sale with at least two firms that specialize in buying companies whose stocks have fallen out of favor. The report cited unnamed people with knowledge of the situation.
Dell Inc., which is based in Round Rock, Texas, declined to comment.
The possibility of a buyout has already been floated by some industry analysts who believe Dell might be better off trying to engineer a turnaround without have to deal with financial pressures from Wall Street.
Dell's deteriorating earnings have contributed to a 30 percent drop its stock price during the past 12 months.
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