Five years ago, the CEO of Dell Technologies
Now, Dell wants to go public again to help finance further investments in its businesses.
Dell plans to re-enter public market via VMWare, a computer software company that is subsidiary to Dell Technologies. Dell and Silver Lake have made an agreement deal of $21.7 billion to exchange trading stocks in a cash and share-swap deal in a new class of common shares. Along with the deal, VMWare will offer a $11 billion cash dividend and $9 billion to Dell. Through this process, Silver Lake will stay committed to their investment. Dell will become public in the New York Stock Exchange (NYSE) as a Class C common stock. Under the agreement, shareholders will be able to take $109 in cash per Class Vshare or 1.3665 shares for Dell's common stock.
Michael Dell owns 72% of his company, with Silver Lake owning 24% of Dell Technologies. Dell has been successful since it first went public in 1988, raising $30 million and increasing their market value from $1,000 to $85 million. Dell has doubled closing over at 8% with $84.58 in early July. Along with the increase, VMWare had raised 10% at $162.19.
- https://www.nytimes.com/2018/07/02/business/dealbook/michael-dell-public.html
- https://bloom.bg/2tOOUDH
- https://abcnews.go.com/Technology/wireStory/dude-dell-public-56309958
- https://www.nasdaq.com/article/the-morning-hype-dell-shares-go-public-again-tesla-hits-manufacturing-milestone-and-google-working-on-pixel-smartwatch-cm986046
- http://www.dell.com/learn/us/en/uscorp1/our-history
- https://www.nytimes.com/2018/07/02/business/dealbook/dell-deal-vmware.html
- https://www.bloomberg.com/news/articles/2018-07-02/dell-to-return-to-public-markets-with-tracking-stock-buyout
