Grey tin box shifter Michael Dell is about to list his company back on the New York Stock Exchange on 28 December, bringing to a close a restructuring process that started at the beginning of the year.
The deal will see Dell float by buying back shares of DVMT, which is a tracking stock linked to its VMware subsidiary. Buying the stocks will make Dell a public company.
Activist investor Carl Icahn had threatened to kill off the cunning plan saying that Dell wasn’t paying a fair price for the stock. However, an improved offer won support from shareholders.
CEO Michael Dell said: “We appreciate our stockholders’ support. With this vote, we are simplifying Dell Technologies’ capital structure and aligning the interests of our investors.
“This strengthens our strategic position, as we continue to deliver innovation, long-term vision and integrated solutions from the edge to the core to the cloud.
“We’ve created Dell Technologies to be our customers’ most trusted partner in their digital transformation.”
Dell has been a private company since 2013, when Michael Dell took the firm off the stock exchange with the support of private equity firm Silver Lake. In the time since, it has completed the huge acquisition of EMC.
