Michael Dell says turnaround will take time and patience

Tue Feb 5, 2013 11:55am EST

Feb 5 (Reuters) - Dell Inc's turnaround will take more "time, investment and patience," Chief Executive Michael Dell said in a memo to employees on Tuesday after striking a deal to take the company private.

In the memo, a copy of which was obtained by Reuters, Michael Dell also said a privately held Dell Inc would still have the flexibility for acquisitions.

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California state worker Albert Jagow (L) goes over his retirement options with Calpers Retirement Program Specialist JeanAnn Kirkpatrick at the Calpers regional office in Sacramento, California October 21, 2009. Calpers, the largest U.S. public pension fund, manages retirement benefits for more than 1.6 million people, with assets comparable in value to the entire GDP of Israel. The Calpers investment portfolio had a historic drop in value, going from a peak of $250 billion in the fall of 2007 to $167 billion in March 2009, a loss of about a third during that period. It is now around $200 billion. REUTERS/Max Whittaker   (UNITED STATES) - RTXPWOZ

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