When reports of Microsoft's desire to be involved in Dell's leveraged buyout surfaced, we speculated that the software giant would want to be involved in the PC manufacturer's business and argued that this might be contrary to the very goals underlying Dell's plan to go private.

So it has come to pass, with the Wall Street Journal reporting that Microsoft's role is a "sticking point" in negotiations. It turns out that Redmond wants more than just an investment for the $2 billion or more that it's paying—it wants a say in how the company is run. According to one of the people involved, "under one scenario being discussed, Dell would agree to use Microsoft's Windows software to power the vast majority of its devices."