Homepage Rankings and Research Companies Channelcast Marketing Matters CRNtv Events WOTC Avaya Newsroom Experiences That Matter Cisco Partner Summit Digital 2020 Cyber Resilience Zone HPE Zone The Business Continuity Center Enterprise Tech Provider Masergy Zenith Partner Program Newsroom HP Reinvent Digital Newsroom Hitachi Vantara Digital Newsroom IBM Newsroom Juniper Newsroom Intel Partner Connect 2021 NetApp Digital Newsroom The IoT Integrator Intel Tech Provider Zone NetApp Data Fabric WatchGuard Digital Newsroom

EMC Shareholder Vote On Dell Deal Set For July 19

The vote will take place during a special meeting at the company's Hopkinton, Mass., headquarters.

EMC has set July 19 as the day shareholders will have the opportunity to vote on the company's acquisition by Dell.

In a U.S. Securities and Exchange Commission filing Monday, the data storage giant said the vote will take place during a special meeting at the company's Hopkinton, Mass., headquarters.

The acquisition is considered the largest in the history of the IT industry and was valued at about $67 billion when it was initially proposed last October. Since then, fluctuations in the stock price of VMware, which is 80 percent owned by EMC, has brought the deal's value below $60 billion, and then back to more than $62 billion.

[Related: Resurgent VMware Stock Pulls Value Of Dell's EMC Acquisition Higher]

The deal calls for Round Rock, Texas-based Dell, its holding company Denali Holding and private equity firm Silver Lake Partners to pay $24.05 a share for EMC, and also give EMC shareholders 0.111 share Denali tracking stock tied to VMware's performance.

Chinese regulatory authorities have also yet to approve the merger, which is expected to close before the end of October.

Denali Holding also said Monday that it had issued a $3.25 billion junk bond to help fund the EMC buy. Dell has said it will take on up to $49.5 billion in debt to make the acquisition work.

Back to Top



    trending stories

    sponsored resources