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Dell Technologies Inc. announced Monday that it would repurchase the follow-up action of VMware Inc. as part of a cash and stock transaction, coming close to a return. on the public market and ending a review of its activities for several months. 19659002] Dell, which owns 80% of VMware, issued the follow-up action in 2016 to fund the purchase of EMC Corp. data storage company.
Tracking stock elimination aims to simplify Dell's complex ownership structure without overloading the balance
The world's largest private technology company will trade each VMware tracking action against 1,3665 Clbad C common shares, or $ 109 per share in cash. A tracking security is a type of common stock that "follows" or that depends on the financial performance of a particular business unit or business unit. Dell said it would list its Clbad C shares on the New York Stock Exchange after the completion of the transaction.
The transaction represents a premium of 28.9 percent at Dell's closing stock price on Friday. VMware shares rose 14.3% to $ 168.
The cash component of the offer will be funded by a special $ 11 billion special dividend that VMware will pay to Pro After the deal, VMware's shareholders will hold between 20.8% and 31% from Dell, depending on the number of investors who opt for money, said Dell
. Michael Dell deprived the company in 2013 of a $ 24.9 billion debt buyback.
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