Dell deal still being thrashed out -

It looks like negotiations between Michael Dell, his backers and the company are dragging on a lot longer than many expected.

The deal, which would give Dell control of his company and allow it to go private, was expected to have been thrashed out over the weekend. However, the expected announcement did not happen yesterday.

According to Reuters, the deal is close to being hatched but the sticking point appears to be the price. The deal is expected to involve $24 billion changing hands, but arguments seem to be over whether the Michael Dell consortium should pay $13.50 or $13.75. Currently the price of Dell shares are $13.27 and the $13.50 to $13.75 per share price range being negotiated means Dell will be worth between $23.5 billion to $23.9 billion.

Last night, a deepthroat told Reuters that everything was on track and an outcome is expected soon. The source did warn that no final agreement had been reached and negotiations could still break down.

Microsoft is expected to invest around $2 billion, while private equity firm Silver Lake is expected to put in about $1 billion.

Michael Dell is expected to roll over his 16 percent stake and put in some of his own money so he has control of the company.

Any deal that Michael Dell negotiates will also need the approval of a majority of the shareholders.