Dell has officially confirmed what's been rumored for the last few weeks by announcing plans to go off the publicly-traded stock market and into private hands. According to a press release issued moments ago, the transaction will be financed through a combination of cash and equity from founder Michael Dell, funds from investment firms Silver Lake and Michael Dell's MSD Capital, a $2 billion loan from Microsoft, plus debt financing from a number of banks. All in all the deal is valued at approximately $24.4 billion.

Dell's shareholders will receive $13.65 for each share of common stock they hold in the company, up about 25 percent from Dell's closing share price of $10.88 back on January 11th when rumors of a buyout began to circulate. Under the terms of the deal, there will be a 45-day 'go shop' period during which the firm will be open to other offers before closing the deal.