Dell did it, so why not Apple? There are reasons it makes sense, and many plausible reasons why not. Who else could dream this up other than the contributors to Seeking Alpha?
Carl Icahn has been aggressively lobbying Apple to take on more debt. It was through this process that we realized that the debt capacity for Apple and the significant cash reserves could make a leveraged management buyout, in partnership with a syndicate of financial sponsors, possible.
Market cap is $550-billion. Cash on hand is $150-billion. Who wants to manage a company that’s already got $400-billion in debt and no cash?