[ad_1]
NEW YORK – Dell returns to the public market after five years of presence as a private company
In the $ 21.7 billion agreement announced Monday, the PC company and data storage proposes to exchange tracking shares for a new clbad of common shares, simplifying the complex ownership structure that is still held primarily by founder Michael Dell.
Investment firm Silver Lake and Michael Dell defeated Dell Technologies Inc. in 2013 as the company struggled, seeking greater freedom of movement. This comes with more distance from Wall Street and investors.
Dell, like all PC makers, was hit hard as people switched laptops, tablets and other mobile devices. Although private, Dell has strengthened its financial position, posting revenue growth of 19 percent in its last quarter. He loses more money, half a billion in the same period, but these losses decrease
In privatizing, Michael Dell said that the company was returning to "the spirit of d & # 39; 39 "enterprise" on which it was founded
. Data growth is fueling the digital age of computing, and we are uniquely positioned with our portfolio of technologies and services to enable digital, computer, security, and workforce transformations. the work of our customers, "Dell said in a statement this year, Dell Technologies announced that it was undergoing a major strategic review and that it could re-enter the sphere while potentially purchasing the rest of the VMware professional software provider that it did not already own.
Michael Dell, who owns 72% of the common shares of the company, will remain as chairman and chief executive officer of the company. Silver Lake will retain its minority interest of 24%
Clbad V Shareholders may elect $ 109 in cash for each share they hold, or 1,3665 common share clbad C. The Clbad C Shares will be listed on the New York Stock Exchange
The VMware Subsidiary will issue a $ 11 billion dividend, with $ 9 billion to Dell.
The transaction requires acquiescence on the part of clbad V shareholders.
[ad_2]
Source link
