With Michael Dell owning 244 million shares in Dell, he owns 14% of the company. And he is going to be the key to pushing this deal through. Sanford Bernstein analyst Toni Sacconaghi has said: [The odds of a buyout] are probably low, given its size and our expectation that it may require about $4 billion in equity. We see the rationale for a Dell (leveraged buyout) as being largely opportunistic given low valuation and interest rates, as we don't see any obvious restructuring opportunities or unique exit strategy. The deal is proving challenging as the PC market is stuttering, most in thanks to the shift towards more mobile devices such as tablets and smartphones for peoples computing needs. The deal would also increase Dell's already sizable $9 billion debt, making it hard for them to acquire smaller companies in the future. Barclays analyst Ben Reitzes has said a move would only make sense " if Dell's earnings power was stable - and backed by real recurring revenues.