[ad_1]
Dell Technologies will be back in public less than two years after its merger with EMC and VMware.
The listing will be facilitated by the exchange of securities issued for common shares, and will be largely funded by a special dividend from Michael Dellell, president of Dell Technologies and VMware, wrote an open letter to staff and to shareholders, pointing out that the company resulting from the merger exceeded the ambitious expectations it had set.
"Together, we delivered We benefited from strong financial results, continued our gains in the portfolio and enjoyed closer relationships with customers and partners, largely thanks to our best value proposition. He writes. enter the public market by exchanging the outstanding Clbad V tracking action, which was issued at the time of the combination Dell and EMC, for the common shares of Dell Technologies, he adds. 9003] "The tracking shareholders will have the option to exchange their shares or withdraw a 29% premium at the closing price of the tracking security." Contingent on the exchange transaction, VMware will offer a cash dividend to all shareholders, including Dell Technologies. "
He says the transaction will have little impact on daily operations other than the simplification of the capital and ownership structure Investors have the opportunity to share the value creation of Dell Technologies in its entirety.
"For our customers and partners, nothing changes, all of our companies, Dell, Dell EMC, VMware, Pivotal, RSA, Secureworks and Virtustream, will continue to operate as they currently do.
" We remain committed to provide a portfolio of solutions and services to meet your IT needs. from the grbadroots to the cloud, investing in advanced innovation and facilitating transactions in the Dell Technologies family of businesses.
"And as a public company, we will maintain the same strategic direction over the long term. Long-term growth that has helped us strengthen, reshape and grow our business. "
VMware has announced a $ 11 billion, one-time, special dividend to all VMware shareholders, with Dell Technologies using the proceeds of its dividend to facilitate the transaction, which is expected to be completed in the fourth quarter of the year. 39, calendar year 2018.
At the conclusion of these transactions, VMware will remain an independent publicly traded software company, better aligned with VMware's economic interests and interests in VMware.
Pat Gelsinger, CEO of VMware, comments: "We are pleased to be able to return capital to shareholders through this one-off, one-off dividend, which is the result"
"We remain focused on our strategy to deliver software Innovators that promote customer success as a strategic and growing independent entity.
Paul Sagan, chief executive officer of VMware, adds, "The VMware Board of Directors has put in place strong governance practices and we are confident that the actions announced today" As part of this transaction, VMware has entered into a governance agreement with Dell Technologies that provides strong and ongoing governance for our shareholders. We believe that Dell's proposal will simplify VMware's share capital structure for the benefit of all of our shareholders by eliminating the tracking inventory. "
" VMware has thrived in the Dell Technologies family and has known all customers, resulting in significant revenue growth and financial performance, "says Dell. "After the closing of the transaction, I look forward to VMware's independent status, strategy and capital allocation policy for organic investments, mergers and acquisitions and shareholder returns."
In relationship
Source link
