There was much drama prior to this vote with activist investor Carl Icahn suing the company last month after Dell announced a price of $21.7 billion for the tracking stock last July. It still runs as a separate company with separate stock listing. VMware was a key part of the deal in that it was one of the more valuable pieces in the EMC federation of companies. Part of the EMC deal was a payout to shareholders based on VMware tracking stock.
Emc stock converted to dell stock symbol full#
The NYSE:DELL Class C shares will enable investors to invest in the full breadth of Dell Technologies company.” In plain terms, that means the company will be sold on the New York Stock Exchange under the DELL symbol.
“Portions of Dell Technologies have been publicly traded through, for example, VMware and the tracker stock. “With this vote, we are simplifying Dell Technologies’ capital structure and aligning the interests of our investors,” Dell said in a statement.Ī company spokesperson confirmed that Dell is going public again. Sixty-one percent of shareholders voted in favor of the deal. It’s unclear how Wall Street will deal with the $50 billion debt load the company is carrying as a result of that $67 billion EMC acquisition from two years ago, but chairman and CEO Michael Dell got the results he wanted. With today’s move, Dell will return to being publicly traded starting on December 28th. The company confirmed the buy-back price of $120 per share for a total of $23.9 billion. Dell announced it has agreed to buy back the VMware tracking stock from the EMC acquisition.
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