End in sight for Dell takeover saga? CEO reportedly has enough votes for buyout

The seven month battle for control of struggling computer maker Dell, could finally be coming to an end, with CEO and founder Michael Dell emerging as victor.

Mr Dell, backed by Silver Lake Management LLC, have reportedly secured enough shareholder votes to get their $24.9 billion (£15.76 billion) buyout approved.

According to a source inside the company, two-thirds of the voting shareholders have said they will support Mr Dell's proposals, Bloomberg reports.

Meanwhile, billionaire investor Carl Icahn has ended his bid to oust Mr Dell and lead a takeover himself.

In a letter sent to shareholders earlier this week, Icahn said that, although he still believes Mr Dell's offer undervalues the business, he has conceded that it would be "almost impossible" to defeat the bid in a vote set for Thursday.

Icahn, who has teamed up with another major shareholder, Southeastern Asset Management, said there will be no further efforts to derail the takeover, which they have bitterly fought for many months.

"We therefore congratulate Michael Dell and I intend to call him to wish him good luck (he may need it)," Icahn wrote in the letter.

Icahn has made his views on Mr Dell very public and called for him to step down from heading the company.

"They should have held him accountable years ago. They have had a very poor performance. Instead of saying that you are out of here, they are going to reward him and give him this great bargain," he said in July.

Mr Dell has said he wants to privatise the company so that he can move it away from desktop computing and into mobile devices, without the scrutiny of shareholders.

At the end of Q2 2013, the company announced that it's year-on-year profits for the quarter had collapsed by 72 per cent.

The takeover is set to be the largest leveraged buyout since 2007.