BREAKING NEWS

Dell gets shareholder approval for VMware deal

Dell gets shareholder approval for VMware deal
FILE PHOTO: A Dell logo is pictured on the front of a computer in this photo illustration in the Manhattan borough of New York October 12, 2015. REUTERS/Carlo Allegri/File Photo -
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Carlo Allegri(Reuters)
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(Reuters) – Dell Technologies Inc said on Tuesday it has received shareholder approval for its earlier announced deal to buy back shares tied to its interest in software maker VMware <DVMT.N>, paving the way for it to return to the market.

Dell said its Class C shares are expected to begin trading on the New York Stock Exchange on Dec. 28.

The company had sweetened the offer for the VMware tracking stockholders to $23.9 billion (18.78 billion pounds) from $21.7 billion in November.

The deal, announced in July, allows Dell to become a publicly listed company without an initial public offering, which would likely have involved grilling by stock market investors over Dell’s $52.7 billion debt pile.

(Reporting by Sonam Rai in Bengaluru; Editing by Arun Koyyur)

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