July 2, 2018 / 10:13 AM / 3 months ago

Dell Technologies to buy out VMWare tracking stock

July 2 (Reuters) - Dell Inc said on Monday it will buy out the holders of shares that track the performance of VMWare Inc using a mix of cash and equity in Dell.

Dell said it will propose to exchange each share of VMware tracking stock for 1.3665 shares of Dell Technologies Class C common stock, or at the holder’s election, $109 in cash, subject to the total amount of cash consideration not above $9 billion. (Reporting by Munsif Vengattil in Bengaluru; Editing by Bernard Orr)

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