What is the value of EMC bought by Dell?
EMC Bought by Dell in a Blockbuster Merger. (Continued from Prior Part) Basics of the transaction. As we saw in the first part of this series, Dell is buying EMC (EMC) for a combination of cash and stock. The total transaction value of the EMC-Dell merger is close to $67 billion if you include cash and assumed debt.
What happens if Dell terminates the EMC-Dell merger?
If Dell terminates the EMC-Dell merger because it cannot get financing, it will owe EMC $4 billion. If Dell is able to get the money and still chooses to terminate the deal, the reverse termination fee increases to $6.0 billion.
How much of EMC stock should be exchanged in the merger?
Dell believes that 86.77% of each EMC Share should be treated as exchanged in the Merger for $20.17 of cash and 0.11146 shares of Class V Common Stock subject to the Section 351 treatment.
What is the cash in lieu for EMC Stock Conversion?
In addition, during the conversion of EMC stock to DVMT stock I end up with a fractional share which was provided as "Cash in Lieu (CIL)" of $49.50/share DVMT May 31, 2019 6:17 PM The EMC Dell merger resulted in EMC shares being converted to (a) cash $24.05 / EMC Share; (b) 0.1115 Shares of DVMT / EMC share; (c) CIL.
What happened EMC stock?
On October 12, 2015, Dell Inc. announced its intent to acquire EMC in a cash-and-stock deal valued at $67 billion, which as of 2021 remains the largest-ever acquisition in the technology sector.
What did Dell pay for EMC?
Dell's 2015 decision to buy EMC for $67 billion remains the largest pure tech deal in history, but a transaction of such magnitude created a mountain of debt for the Texas-based company and its primary backer, Silver Lake.
Who owns EMC storage?
Dell Inc. Wednesday said it completed its $60 billion deal to acquire EMC Corp., the largest technology merger in history.
Why did Dell buy EMC?
Dell EMC, a part of Dell Technologies, enables organizations to modernize, automate and transform their data center using industry-leading converged infrastructure, servers, storage and data protection technologies.
Will Dell spin off VMware?
– Nov. 1, 2021 – VMware (NYSE: VMW) and Dell Technologies today announced the completion of the spin-off of VMware from Dell Technologies.
Why is Dell selling VMware?
Round Rock, Texas-based Dell will sell off its 81 percent majority stake in VMware in a move to improve its capital structure and attract new investors as its Client Solutions Group—which includes PCs, laptops, monitors and notebooks—is hotter than it's ever been in the company's long history.
Is VMware owned by Dell?
VMware Inc. today became an independent company after completing its spinoff from former parent company Dell Technologies Inc., a move that has been in the works for several quarters.
How much is Michael Dell worth?
55.6 billion USD (2022)Michael S. Dell / Net worthWealth. Forbes estimated Dell's net worth at $50.4 billion as of April 2021. In February 2018, it was reported that in 2014, Dell had paid $100.5 million for Manhattan's One57 penthouse, which was then a record for the most expensive home ever sold in the city.
What is the difference between Dell Technologies and Dell EMC?
Dell Technologies Inc. is an American multinational technology company headquartered in Round Rock, Texas. It was formed as a result of the September 2016 merger of Dell and EMC Corporation (which later became Dell EMC). Dell Technologies Inc.
How much debt does Dell have?
$27.998 billionDell Technologies's total debt hit its five-year low in January 2022 of $27.998 billion. Dell Technologies's total debt decreased in 2021 ($40.478 billion, -24.8%) and 2022 ($27.998 billion, -30.8%) and increased in 2018 ($51.871 billion, +5.0%), 2019 ($53.521 billion, +3.2%) and 2020 ($53.848 billion, +0.6%).
What does EMC stand for company?
EMCAcronymDefinitionEMCExport Management CompanyEMCEmergency Management CoordinatorEMCExcellence in Manufacturing Consortium (Canada)EMCExecutive Meeting Center (various locations)129 more rows
Why customers should buy from Dell Technologies?
Dells Are Built for Everyday Use They are easy to use and logically designed. If you are a gamer or a super techy individual, there are Dell models with the power, speed, and graphics you deserve. For the average Joe with only minimal computer skills, you will still be able to do everything you need on a Dell.
Story Highlights
About Dell
Dell Technologies today announced completion of the acquisition of EMC Corporation, creating a unique family of businesses that provides the essential infrastructure for organizations to build their digital future, transform IT and protect their most important asset, information.
What is Dell buying EMC?
Dell EMC, a part of Dell Technologies, enables organizations to modernize, automate and transform their data center using industry-leading converged infrastructure, servers, storage and data protection technologies.
How much does EMC owe Dell?
As we saw in the first part of this series, Dell is buying EMC (EMC) for a combination of cash and stock. The total transaction value of the EMC-Dell merger is close to $67 billion if you include cash and assumed debt. Shareholders will receive $24.05 in cash and 0.111 shares of newly issued VMware (VMW) tracking stock. Shareholders will not be able to deliver VMware tracking stock when the deal closes to offset their VMW short position. The two stocks have different characteristics and are not fungible.
What happens if Dell terminates EMC?
If EMC terminates the deal because it has an alternative transaction, it will owe Dell $2.5 billion. If EMC terminates the deal during the go-shop period, the termination fee drops to $2 billion.
How long does EMC have to go shop?
There are reverse termination fees, as well. If Dell terminates the EMC-Dell merger because it cannot get financing, it will owe EMC $4 billion. If Dell is able to get the money and still chooses to terminate the deal, the reverse termination fee increases to $6.0 billion. Reverse termination fees are typically seen in private equity transactions and not in strategic deals, unless there is a lot of regulatory risk.
Who bought EMC?
EMC has a 60-day go-shop provision, which allows it to solicit other bids. This means for the first two months EMC is allowed to discuss a merger with another interested suitor. Go-shop provisions were typical in private equity deals before the financial crisis but had more or less disappeared.
Who did EMC negotiate with?
SAN FRANCISCO — Computer technology giant Dell and private-equity firm Silver Lake on Monday acquired data storage provider EMC for roughly $67 billion, a $33.15-per-share deal that represents the largest in technology industry history.
How much did Dell buy EMC?
EMC negotiated with Dell and Silver Lake about a sale after previous talks with Hewlett-Packard collapsed.
How much debt did Dell take on EMC?
Dell’s 2015 decision to buy EMC for $67 billion remains the largest pure tech deal in history, but a transaction of such magnitude created a mountain of debt for the Texas-based company and its primary backer, Silver Lake.
What did Elliott want to sell to EMC?
Dell took on $48.6B in debt to acquire the storage giant. Dell’s 2015 decision to buy EMC for $67 billion remains the largest pure tech deal in history, but a transaction of such magnitude created a mountain of debt for the Texas-based company and its primary backer, Silver Lake. Dell would eventually take on close to $50 billion in debt.
When did Dell go public again?
In particular, Elliott reportedly wanted the company to sell one of its most valuable parts, VMware, which it believed would help boost EMC’s share price. (Elliott is currently turning the screws on Twitter and SoftBank .)
Where is Lucid Motors factory?
Dell eventually took itself public again in late 2018, probably to help raise some of the money it needed to pay off its debts. We are more than three years past the point where the Dell-EMC deal closed, so we decided to take a look back and see if Dell was wise to take on such debt or not. Dell votes to buy back VMware tracking stock ...
Is Dell buying VMware stock?
Lucid Motors kicks off market debut with EV factory expansion plans. The former Lucid Motors will expand its factory in Casa Grande, Arizona, by 2.7 million square feet and aims to ultimately produce 400,000 vehicles a year.
What percentage of EMC share is redeemed in merger?
Dell announced it has agreed to buy back the VMware tracking stock from the EMC acquisition. The company confirmed the buy-back price of $120 per share for a total of $23.9 billion. With today’s move, Dell will return to being publicly traded starting on December 28th. Sixty-one percent of shareholders voted in favor of the deal.
Is the CIL a straight stock exchange?
An EMC shareholder who received cash in the Redemption should generally recognize capital gain or loss equal to the difference between the amount of cash received in the Redemption and such EMC shareholder’s tax basis in the 13.23 percent of each EMC Share treated as redeemed in the Merger.
