Dell's board approved the deal, but the deal is a long way from done. First, there's a 45-day "open shop" period in which other groups can submit another offer for the company. Pending no larger offers, then the deal must meet government approval. The company could face class action lawsuits from investors who feel that Dell didn't get them as much money as it could have. Clearing all that, Dell expects to close the deal in the second quarter.