Michael Dell's DFO Management and Sequence to Take Baldwin Group Private in $7.7 Billion Cash Deal

A consortium led by DFO Management, the family office of Dell Technologies Chief Executive Michael Dell, has agreed to take insurance brokerage Baldwin Group private in an all-cash deal with an enterprise value of $7.7 billion. DFO Management is leading the transaction alongside Sequence Holdings, with the deal pricing Baldwin shares at $32.50 each.

Baldwin Group shares rose 6.7% in premarket trading on the news. The company carried a market value of roughly $4.2 billion before the deal emerged, making the $7.7 billion enterprise value a substantial premium when debt and other obligations are factored in.