Michael Dell, CEO and Founder of Dell

The founder of the company, Michael Dell, met late in the night previous to the arrangement with Silver Lake Partners and Microsoft. Along with Silver Lake, Dell intends to offer holders a per-share price of $13.65 in cash. The stock closed Tuesday at $13.42 on Nasdaq.

From Reuters:  

“Michael Dell once gave up day-to-day control of the computer company that bears his name - and everything began to go south. Now the billionaire is cementing his grip over the firm to try to restore it to its former glory.”

There has yet to be any conclusive commenting on the situation, but those invested in the company believe that Dell is set to bring his reputation to what it was when he first put his name on the map as household equipment. 

Also Reuters, “Having once propelled his company from a college dorm-room project to the pinnacle of the personal computing world, may be itching to repair his reputation as a visionary CEO.” 

Rumors have gone on so far to say that Dell was increasingly worried about his reputation. Cindy Shaw, a managing director and research analyst at investment advisory firm Discern Inc., said “"Michael Dell is once again hungry. Thirty years ago, we think he hungered for success and wealth. In 2013, we think he hungers to restore his legacy and personal balance sheet."

The initial agreement of the private buyout will allow a 45 day “go-shop” period to negotiate alternative proposals.

From CNBC: 

“After the 45 day period, a special committee will be allowed to continue discussions and enter into a transaction with any bidder that submitted a proposal during the initial 45-day period. A bidder that makes a qualifying proposal would face a $180 million termination fee and a bidder that does not qualify will face a $450 million fee, according to the agreement.”

 Dell will continue to run the company as chairman and chief executive. 

Reach Executive Producer Eric Parra here.