Dell is going public again with tracking stock buyout

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

Billionaire Carl Icahn is deciding whether to challenge Michael Dell in VMware, sources told The Post.

The shares that track its interest in VMware Inc. jumped 8 per cent in early trading.

"We are excited that public investors will share in Dell Technologies' dynamic value creation with Silver Lake, which has no plans to seek liquidity and remains an enthusiastic long-term shareholder". Those shares will end up traded on the NYSE, around five years later after its founder took the company private with Silver Lake Partners in a deal worth roughly $25 billion.

At the weekend, the WSJ reported the possibility that Dell would attempt to swap privately held shares in itself with the "tracking stock" it created when buying EMC - and the * a target="_blank" href="https://searchwww.sec.gov/EDGARFSClient/jsp/EDGAR_MainAccess.jsp?search_text=*&sort=Date&formType=1&isAdv=true&stemming=true&numResults=10&queryCo=Dell%20Technologies&numResults=10" *SEC filing and a Dell missive have just confirmed the news. The security which Dell is buying back is a so-called tracking stock tied to its 81 percent economic stake in VMware.

Michael Dell now owns 72 percent of common shares in Dell, while Silver Lake owns 24 percent. VMware specializes in virtualization, a technology which allows multiple systems and applications to run at the same time on the same server, which can cut companies' IT costs. The agreement also included EMC's majority stake in VMWare, which now has a market cap of around $50 billion, as well as ownership of Pivotal, SecureWorks, RSA and VirtuStream.

Survivors of deadly tour boat explosion airlifted to the US
One person was killed and nine others were injured after a tour boat exploded early Saturday in the Bahamas . The cause of the explosion is still under investigation by the Exuma branch of the Bahamas Police Force.

Susan Collins Won't Support Anti-Roe v. Wade Nominee
Collins and fellow senator Lisa Murkowski of Alaska are the only two nominally pro-choice Republicans in the Senate. Trump could have even more high court vacancies to fill, as Kennedy is one of four justices over the age of 70.

OnePlus 6 red variant coming on July 2
So unless OnePlus changes the current pricing structure, this red variant will likely cost between $579 and $629. Putting all of this together gives away that the OnePlus 6 red variant could be launched early next week.

The transaction represents a premium of 28.9 percent to the closing price of Dell's tracking stock on Friday.

Should Dell become a public company once again, it's not entirely clear what will happen to VMware - although it should be possible for it to continue to operate as it now does. Alternatively, VMware shareholders could opt for $109 in cash.

"After the transaction concludes, I am looking forward to VMware's continued independent status, strategy and capital allocation policy for organic investment, M&A and shareholder returns".

Dell in its early years focused on commercial clients, but that changed in the late 1990s when it garnered a huge following among techies who desired more options in customizing PCs.

Related news:

Hot News

isis-killer-beheading-video-story-top Vancouver moms protest refugee separations at Trump tower, United States consulate
Jul 03, 2018 - 09:02
Many families brought their own children to make a point, Craig reports . "There's so much wrong with family detention", Philip E. Capitol to protest the Trump Administration's immigration policy in Washington, U.S., June 30, 2018.

isis-killer-beheading-video-story-top Brazil beats Mexico, advances to World Cup quarterfinals
Jul 03, 2018 - 08:49
Then, things took a darker turn when Layun appeared to step on Neymar following another altercation on the touchline. The goal was the 227th for Brazil in World Cup play, breaking a tie with Germany for most all-time.

isis-killer-beheading-video-story-top Young boys, coach found deep in Thai cave
Jul 03, 2018 - 08:27
In total, more than 1,000 people have been involved in the operation, including teams from China, Myanmar , Laos and Australia. Thai provincial governor says all 12 boys and their coach found alive in cave where they went missing over a week ago.

isis-killer-beheading-video-story-top Senators Discuss Abortion Rights as Trump Mulls Supreme Court Pick
Jul 03, 2018 - 08:19
Speaking to reporters at the White House, Trump said he had met with "four potential justices of our great Supreme Court". Overturning that 1973 ruling would not make abortion illegal, but it would allow individual states to ban the procedure.

isis-killer-beheading-video-story-top IPL Has Helped Us Break Barriers with England Players: Kohli
Jul 03, 2018 - 08:16
From that point of view, I thought why can't we do it, why can't we go over and play in these conditions and get exposed to it? Besides the inward assessment, there's also a chance for India to size up a limited-overs giant like England .

isis-killer-beheading-video-story-top LeBron back in Los Angeles as start of free agency nears
Jul 03, 2018 - 08:01
They can open up even more space if they find a way to move the $8.6 million they owe guard Jerryd Bayless in 2018-19. Leonard has been at odds with the Spurs for months and asked for a trade, preferably to the Los Angeles Lakers.

isis-killer-beheading-video-story-top Defending Wimbledon champ Federer coasts into 2nd round
Jul 03, 2018 - 07:50
According to ESPN's Darren Rovell, Federer has signed a ten-year deal worth more than US$300 million with Uniqlo. Gone was the Nike swoosh from his bandana and the RF logo that usually appears on his jacket was also missing.

isis-killer-beheading-video-story-top Kaley Cuoco & Karl Cook Got Married!
Jul 03, 2018 - 07:49
News after they got engaged, Kaley said: "We're totally going to get married". Karl proposed to Kaley on her 32nd birthday during a candlelit dinner at home.

isis-killer-beheading-video-story-top Boys lost in Thai cave to be taught how to dive
Jul 03, 2018 - 07:22
The Thai SEALs and later their support teams had been diving around the clock since 2 a.m. The divers were aiming for a sandy chamber on higher ground in the cave.

isis-killer-beheading-video-story-top Suspect in Maryland attack to appear on five murder charges
Jul 03, 2018 - 07:19
Crime scene tape surrounds a building housing The Capital Gazette newspaper's offices, Friday, June 29, 2018 , in Annapolis , Md. His case against the newspaper was dismissed and when he appealed against the dismissal, an appeals court affirmed the decision.

isis-killer-beheading-video-story-top Lakers Rumors: 2 Best Trade Packages That Could Land Kawhi Leonard
Jul 03, 2018 - 07:13
Cousins was traded to the Pelicans during NBA All-Star Weekend in 2017, ending his six-plus-season run with the Sacramento Kings . However, Griffin believes that the Lakers will have to narrow things down and add only one of those superstars to their lineup.

Ex-Lakers center Julius Randle joining Pelicans on 2-year, $18M deal
Jul 03, 2018 - 07:06
The Lakers are the fifth team the 32-year-old Rondo since he was traded from the Celtics to the Dallas Mavericks back in 2014-15. Randle, 23, was the last player on the roster to have played with Kobe Bryant, who retired following the 2015-16 season.

isis-killer-beheading-video-story-top Trump Allies Tell Paris Rally ‘End Of Regime’ Near In Iran
Jul 03, 2018 - 06:41
The Leader then hailed the Islamic Revolution Guards Corps (IRGC) as a component of Iran's might, calling for the qualitative development of the military force.

isis-killer-beheading-video-story-top Oregon State's use of freshman pitcher in CWS was borderline abuse
Jul 02, 2018 - 08:21
I was going to give it everything I had. "Being able to hug my teammates and celebrate my last college game is the best ever". Momentum is on Oregon State's side not only because of the fact it won Game 2 , but due to the manner in which it happened.

isis-killer-beheading-video-story-top Chris Froome banned from Tour de France
Jul 02, 2018 - 06:59
Technically, while Froome awaits the result of an ongoing investigation into his Salbutamol case, he can still ride on the Tour. In the end, Astana did not take part because five of their team were implicated in doping individually.