Monday, July 02, 2018

Dell to Return to Public Trading, but Still in Its Founder’s Hands -- NYT

Dude, you're getting DVMT shares (but no meaningful shareholder voting rights); also see Dell Is Said to Acquire VMware's $17 Billion Tracking Stock (Bloomberg)
"Mr. Dell and Silver Lake are expected to announce as early as Monday that they have struck a $21.7 billion deal to buy out investors in a special class of shares created in 2016 to help Dell buy the networking company EMC. That stock effectively tracks the performance of Dell’s 82 percent stake in VMware, the fast-growing network software company that Dell inherited when it bought EMC. (The other 18 percent of VMware is publicly traded as a different stock.)

The deal, which was approved by the boards of Dell and VMware on Sunday evening, would simplify the stock structure of Dell and its publicly traded subsidiary. But it would also mark the return of Dell to the public markets, with a twist: The special shares held by Mr. Dell and Silver Lake would give them more votes than other investors."
Dell to Return to Public Trading, but Still in Its Founder’s Hands -- NYT
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