Dell LBO to Test Market’s Appetite for Return to Boom Era

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A leveraged buyout of Dell Inc. would require Michael Dell and private-equity firms to accomplish a feat not seen since 2007: pulling together more than $20 billion in equity and debt to finance the deal.

Dell, the personal-computer maker that lost almost a third of its value last year, has been in talks with buyout firms including Silver Lake Management LLC about going private, a person familiar with the matter said yesterday. The Round Rock, Texas-based company has climbed 21 percent since Bloomberg reported the discussions yesterday.