![]() ![]() “I am proud of everything we’ve built at EMC, from humble beginnings as a Boston-based startup to a global, world-class technology company,” said Joe Tucci, chairman and CEO, EMC.Īt closing, EMC shareholders will receive $24.05 per share in cash in addition to a newly issued tracking stock linked to a portion of EMC’s economic interest in the VMware business.īased on the estimated number of EMC shares outstanding at the close of the transaction, EMC shareholders are expected to receive approximately 0.111 shares of new tracking stock for each EMC share. Combined, we will be exceptionally well-positioned for growth in the most strategic areas of next generation IT, including digital transformation, software-defined data center, converged infrastructure, hybrid cloud, mobile and security,” said Michael Dell, chairman and CEO of Dell Technologies. “This is a historic moment for both Dell and EMC. ![]() MOFCOM’s approval was the final regulatory condition to closing the transaction.ĮMC shareholders approved the transaction on July 19, with approximately 98 percent of voting EMC shareholders casting their votes in favor of the merger, representing approximately 74 percent of EMC's outstanding common stock. The latest announcement follows regulatory approval of the Dell and EMC transaction by China’s Ministry of Commerce (MOFCOM), which has granted clearance for the companies’ proposed combination. 7.ĭell Technologies, the name of the new combined company, will begin operating immediately following the close of the transaction. and EMC Corp have announced that they intend to close the transaction to combine Dell and EMC on Sept. ![]()
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