104.75 +0.02 (0.02%)
After hours: 4:49PM EST
|Bid||104.00 x 1300|
|Ask||106.70 x 1800|
|Day's Range||103.93 - 106.00|
|52 Week Range||64.96 - 107.22|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||Mar 7, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||114.50|
When Dell voted to buy back the VMware tracking stock and go public again this morning, you had to be wondering what exactly the strategy was behind these moves. While it's clearly about gaining financial flexibility, the $67 billion EMC deal has always been about setting the company up for a hybrid and private cloud future. The hybrid cloud involves managing workloads on premises and in the cloud, while private clouds are ones that companies run themselves, either in their own data centers or on dedicated hardware in the public cloud.
Dell said its Class C shares are expected to begin trading on the New York Stock Exchange on Dec. 28. The company sweetened the offer for the VMware tracking stockholders to $23.9 billion from $21.7 billion in November, helping it win backing from shareholders, including Carl Icahn, who had opposed the initial offer. Icahn, who owns 9.3 percent stake in Dell tracking stock, along with other hedge fund investors had opposed the first offer from Dell, saying it massively undervalued the tracking stock.
Dell Technologies Inc said on Tuesday it has received shareholder approval for its earlier announced deal to buy back shares tied to its interest in software maker VMware , paving the way for it to return to the market. Dell said its Class C shares are expected to begin trading on the New York Stock Exchange on Dec. 28. The company sweetened the offer for the VMware tracking stockholders to $23.9 billion from $21.7 billion in November, helping it win backing from shareholders, including Carl Icahn, who had opposed the initial offer.
Under terms of the deal, Dell will buy out shareholders of the stock that tracks Dell’s stake in software maker VMware Inc., known by its ticker DVMT, for $23.9 billion worth of cash and shares. The Round Rock, Texas-based computer giant said it will list on the New York Stock Exchange as soon as Dec. 28 under the ticker DELL.
Inc. is set to return to public markets later this month, after the PC maker and data-storage company recut a deal that garnered sufficient shareholder support. Inc. voted Tuesday to approve a deal that will simplify Dell’s complex ownership structure and return it to the public markets. The vote followed months of shareholder resistance that prompted Dell to increase its offer and restructure its deal.
Dell Technologies will go public later this month after getting approval to buy out shareholders of its tracking stock for VMware.
Dell Technologies Inc. said Tuesday that it has obtained shareholder approval for its plan to buy back the tracking stock that's linked to its stake in VMware Inc. . The plan will also take Dell public again. Dell expects the deal to close on Dec. 28 and that class C shares will begin trading on the New York Stock Exchange on that day under the ticker "DELL." Carl Icahn initially opposed the Dell buyout and filed a lawsuit against the company surrounding its merger plans. Dell sweetened its offer in November and Icahn dropped his proxy fight, calling it "unwinnable" but arguing that Dell shareholders could have obtained a "far better deal." Dell's class V shares are up 1.4% in Tuesday morning trading.
A bumpy, months-long journey culminated Tuesday when shareholders of Dell Technologies Inc. approved a deal that will return the Round Rock-based company to the public markets. The vote will enable Dell (NYSE: DELL) to consummate a complicated reverse merger in which the company purchases the DVMT stock (NYSE: DVMT) that tracked Dell’s interest in VMware Inc. (NYSE: VMW). Dell executives created the tracking stock to help finance the 2016 acquisition of Massachusetts-based EMC Corp. "We appreciate our stockholders' support.
ROUND ROCK, Texas , Dec. 11, 2018 /PRNewswire/ -- News summary Stockholders vote in favor of Class V transaction Holders of more than 61% of Dell Technologies' Class V common stock, excluding affiliates ...
Michael Dell took his company private five years ago because he felt unloved by mutual funds and retail investors. As Dell Technologies stands on the precipice of going public again, the big question is if public investors will appreciate him the second time around. As they show, Mr Dell and his private equity partners at Silver Lake have created a $100bn juggernaut.
Dell Technologies won shareholder approval for a complex $23.9bn plan to buy back a tracking stock and list itself on the New York Stock Exchange, a move that will return the PC and technology behemoth to public markets for the first time since 2013. The company said 61 per cent of shareholders excluding investors affiliated with Dell had voted in favour of the hotly-contested deal. After months of tense negotiations, Dell in November increased both the cash and stock portions of the offer, valuing the entire deal at $120 a share, up from the previous offer of $109.
Away from the glare of Wall Street, Mr Dell — who had become frustrated with the mutual funds and retail investors who dismissed his efforts to reinvent the company — celebrated the solitude of the private market, saying the company had “the freedom to invest in a future that lies beyond the next quarter”. , a prominent Silicon Valley-based private equity firm. , raised questions over private company valuations and led to accusations from some shareholders that Mr Dell and Silver Lake were playing hardball in the brutal talks around the DVMT deal to squeeze every cent they could get for themselves.
CNBC's 'Squawk on the Street' team discuss Dell shareholders approving the share buyout of DVMT which could lead to Dell becoming a public company once again.