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????據(jù)彭博社（Bloomberg）報(bào)道,，邁克爾?戴爾正在試圖獲得對(duì)戴爾公司（Dell Inc.）的多數(shù)控制權(quán)。目前,，這家個(gè)人電腦制造商正在與銀湖合伙基金（Silver Lake Partners）和微軟（Microsoft）進(jìn)行私有化談判,。另?yè)?jù)報(bào)道，科比?布萊恩特仍希望在平局比賽中投出絕殺,。

????說(shuō)實(shí)話(huà),，有人有過(guò)不同想法嗎,？

????最初，人們都認(rèn)為,，邁克爾?戴爾將滾轉(zhuǎn)他目前持有的15.74%的股份,。之后，我們得知權(quán)益總額（不包括戴爾持有的股份）約為50億美元,。即便微軟與銀湖各自拿出20億美元——雖然我并不認(rèn)為銀湖真的會(huì)這么做,，除非它能夠利用某些資金回收——但最終的資金缺口仍高達(dá)10億美元。

????這正是邁克爾?戴爾的機(jī)會(huì)——這意味著他將出資超過(guò)40億美元（超過(guò)微軟與銀湖出資的總額）,。

????而從更為本質(zhì)的角度來(lái)看,，邁克爾?戴爾從來(lái)沒(méi)說(shuō)過(guò)要放棄對(duì)公司的控制權(quán)。如果公司被收購(gòu),，他或許可以繼續(xù)擔(dān)任戴爾的董事長(zhǎng)兼CEO,，但屆時(shí)，他的命運(yùn)將掌握在銀湖手中,?；蛘咭淬y湖將戴爾轉(zhuǎn)售給誰(shuí)。他肯定不希望發(fā)生這樣的事情,。

????實(shí)際上,，有知情人士稱(chēng)，邁克爾?戴爾堅(jiān)持對(duì)公司的永久控制,，也是許多私募股權(quán)并沒(méi)有認(rèn)真對(duì)待這次機(jī)會(huì)的原因之一,。不僅是因?yàn)樗麄兿Ｍ~克爾?戴爾出局，也是因?yàn)樗麄兿Ｍ軌蛘莆罩鲃?dòng)權(quán),，如果有朝一日自己改變了想法,，可以將他一腳踢開(kāi)。

????對(duì)于邁克爾?戴爾來(lái)說(shuō),，這并不是一個(gè)打擊,。他創(chuàng)立了戴爾公司，是公司最大的股東,。同時(shí),，他堅(jiān)信，要幫助公司適應(yīng)這個(gè)PC日漸式微的世界,，他本人才是正選,。相反，對(duì)于那些以為他會(huì)心甘情愿讓別人決定自己與公司命運(yùn)的那些人來(lái)說(shuō),，這才是一個(gè)沉重的打擊,。（財(cái)富中文網(wǎng)）

????譯者：劉進(jìn)龍/汪皓

????Bloomberg is reporting that Michael Dell is seeking majority control of Dell Inc. (DELL), the PC maker that is in talks to be taken private by Silver Lake Partners and Microsoft (MSFT). In other news, Kobe Bryant still wants to take the last shot in a tied game.

????Seriously, did anyone ever think different?

????For starters, it was always assumed that Michael Dell would roll over his existing 15.74% position. Next, we knew that the total equity check (excluding Dell's shares) would need to be around $5 billion. Even if Microsoft and Silver Lake each pumped in $2 billion -- something I don't believe Silver Lake can actually do, save for possibly utilizing some fund recycling provisions -- that would still leave a $1 billion gap.

????That's where Michael Dell would come in -- meaning that he would contribute more than $4 billion in value (i.e., more than Microsoft and Silver Lake combined).

????From a more qualitative perspective, Michael Dell has never suggested a willingness to give up the reins. He could have remained Dell's chairman and CEO following a buyout, but his job security would have been subject to Silver Lake's continued approval. Or that of whoever Silver Lake sold Dell to down the line. That just isn't happening.

????In fact, sources tell me that Michael Dell's insistence on eternal control was one reason why a number of private equity firms didn't look seriously at the opportunity. Not because they didn't want Michael Dell involved -- but because they wanted the option of dumping him if they someday changed their mind.

????None of this is a knock on Michael Dell. He founded Dell, is its largest shareholder and believes he's the right man to help it adapt to a PC-light world. Instead, it's a knock on anyone who thought he'd voluntarily let someone else determine his fate, or that of his company.