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Dell gets shareholder approval for VMware deal

Published 12/11/2018, 10:03 AM
Updated 12/11/2018, 10:05 AM
© Reuters. Logo of Dell Technologies is seen at the Mobile World Congress in Barcelona
DELL
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(Reuters) - 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 (N:DVMT), 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 had sweetened the offer for the VMware tracking stockholders to $23.9 billion from $21.7 billion in November.

The deal, announced in July, allows Dell to become a publicly listed company without an initial public offering, which would likely have involved grilling by stock market investors over Dell's $52.7 billion debt pile.  

© Reuters. Logo of Dell Technologies is seen at the Mobile World Congress in Barcelona

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