Dell Inc. (NASDAQ:DELL) today announced that it has received all necessary regulatory clearance for Michael Dell’s proposal to take the company private.

Dell

Dell Inc. (NASDAQ:DELL)’s obtaining all necessary pre-merger regulatory clearances would facilitate consummation of the merger transaction in which Michael will acquire Dell Inc in partnership with global technology investment firm Silver Lake Partners.

Last hurdle to surmount

The regulatory clearances mark the last big hurdle Dell needed to surmount.

The transaction is expected to close before the end of third quarter of 2014 or November 1. Dell’s spokesperson indicated that until then, the company would remain publicly traded.

Dell’s obtained shareholders nod

Last month, Dell Inc. (NASDAQ:DELL) obtained its shareholders’ approval for the $24.9 billion buyout spearheaded by Mr. Dell.

The buyout proposal is considered the largest buyout since the financial crisis.  In 2007, The Blackstone Group bought out Hilton Worldwide Inc. and took it private.

Earlier this year, founder and CEO Michael made the original buyout offer for his company that involved paying Dell Inc shareholders $13.65 per share and then taking the PC maker private. The buyout proposal from Michael and the private-equity firm Silver Lake Partners involving $24.4 billion received support from the influential shareholder advisory firm Institutional Shareholder Services.

Carl Icahn’s sweetened offer

Activist investor Carl Icahn and Southeastern Asset Management Inc. in their counter-bid argued Michael’s $13.65 per share was not properly reflect the value of Dell Inc. and urged Dell shareholders to vote against the proposal.

Later, Carl Icahn sweetened his offer by including a warrant to purchase more shares of Dell Inc. (NASDAQ:DELL). after the stock hits $20 per share. The warrants would get added to Icahn’s $14 per share offer.

Activist investor Carl Icahn pointed out in his letter to shareholders that the value the shareholders would end up seeing with the addition of the warrant would be between $15.50 and $18 per share.

Michael’s revised offer

After sensing that his bailout plan would fail to secure the required votes, Michael along with his partner Silver Lake raised their buyout offer by 10 cents to $13.75 per share.

Last month, shareholders approved Michael’s revised offer.

Once the deal is finalized, Michael would own about 75 percent of Dell Inc. (NASDAQ:DELL), with Silver Lake  the remainder and with some of that financed in part by Microsoft Corporation (NASDAQ:MSFT), which relies on Dell as a major OEM for its Widows products.