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Dell Nearing Deal to Swap Out VMWare Tracking Shares: WSJ

Dell Nearing Deal to Swap Out VMWare Tracking Shares: WSJ

By Reuters | Updated: 2 July 2018 12:33 IST

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Highlights

Dell could announce a proposed share swap to acquire DVMT tracking stock
Details on the acquisition of the DVMT tracking stock not yet known
DVMT has a market capitalisation of $17 billion

Dell is close to a deal to combine shares that track its VMware virtualisation software unit in an effort that would result in a public listing for the personal computer and data storage company, the Wall Street Journal said on Sunday.

Citing people familiar with the matter, the newspaper said Dell has been conducting a strategic review for months and plans to announce the deal as early as Monday.

Details on the acquisition of the DVMT tracking stock, which could still fall through, could not be learned, the WSJ said.

Other options Dell considered included a combination with VMware or an initial public offering, it said.

DVMT has a market capitalisation of $17 billion (roughly Rs. 1.16 lakh crores), while that of VMware is about $60 billion (roughly Rs. 4.1 lakh crores) after their stock prices increased this year on the possibility of a deal, according to the paper.

© Thomson Reuters 2018

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Further reading: VMware, Dell, DVMT