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07-03-2018
The company had left the stock market after the Silver Lake fund helped Michael Dell take back control of the company
Dell Technologies the largest private technology company, which ceased trading on the Nasdaq in 2013 after returning to the hands of its founder, Michael Dell ( photo), will return to trading five years later through an operation by which the multinational will be made with the "follow-up actions" ("stock tracking") of its subsidiary VMware valued at 21 , $ 7 billion. 19659003] The Firm will offer 1,366 Dell Clbad C Common Shares for each of these Tracking Shares or a cash payment of $ 109, up to an aggregate maximum of $ 9,000 Million all the follow-up actions will be canceled.
The transaction badumes a premium of 28.9% over its closing price on Friday and it is expected that at the end of the transaction, scheduled for the fourth quarter, the current owners of shares of follow-up (among which is Carl C. Icahn who opposes the decision of Michael Dell to take Dell out of stock) will hold between 20.8% and 31% of Dell, in depending on the number of investors choose for cash collection, badured the Reuters agency.
The board of directors of VMware, a company dedicated to developing software for the virtualization of systems, servers and cloud computing, approved the distribution of a dividend of $ 11 billion ] among all its shareholders, which will bring back to Dell about 9,000 million. At the closing of the transaction, Dell will control 81% of VMware and will take its clbad C common stock from the New York Stock Exchange
Shares of VMware, a company that Dell inherited when it bought EMC rose more than 9% Monday and its market value exceeded 65.350 million dollars .
Dell ceased trading after the fund Silver Lake helped Michael Dell regained control of the company he founded in 1984 in his university dormitory, in an operation that took them to spend $ 24.9 billion.
The goal was to get more freedom to transform the company, one of the world leaders
Now, with much of the transformation work done, which has undoubtedly contributed to the acquisition of the EMC data storage provider by $ 67,000 million in 2016, the Dell owners are ready to make the public again.
According to the New York Times, the special shares held by the company's founder and Silver Lake will give them more votes than the rest of the investors. Meanwhile, Dell has increased its stake in the PC and server markets. According to the consultancy IDC the revenues of the multinational's servers increased by more than 50% in the first quarter, snatching first place in HP .
Dell, which sells more equipment to service providers in the cloud and bet on artificial intelligence and devices connected to the Internet it was also placed leader on the PC market in the USA. at the end of March.
If the transaction ultimately receives all approvals, there will be only two types of publicly traded, Dell-related stocks: Dell Clbad C Shares and VMware Common Securities.
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