Michael Dell's DFO nears take-private deal for Baldwin Insurance

DFO Management, the family investment office led by Dell Technologies CEO Michael Dell, is in advanced discussions to take The Baldwin Insurance Group private, the Financial Times reported. The talks value the Tampa-based insurance brokerage at $32.50 a share, roughly 10 percent above Friday's close, for a total of about $7.7 billion. Baldwin's market capitalization is roughly $4.1 billion to $4.2 billion. DFO is reportedly working with Sequence Holdings, backed by 8VC, Conviction, and Lux Capital. Baldwin recently reported adjusted diluted earnings per share up 14 percent year over year to $0.48 and revenue up 30 percent to $492.9 million. Neither DFO Management nor Baldwin has publicly confirmed the transaction. The deal could be announced as soon as next week. Reuters has not independently verified the reports. Contested: no contested facts found.