Dell Confirms Plan to Look at IPO, VMware Business Combination
February 02 2018 - 10:27AM
Dow Jones News
By Allison Prang
Dell Technologies Inc. formally disclosed in a regulatory filing
Friday its board "is evaluating potential business opportunities"
which include going public, combining business with VMware Inc. or
staying as is.
Chief Executive Michael Dell said in the filing that "nothing
has been decided and alternatives are just being considered at this
stage."
The Wall Street Journal reported on Dell's intended plans last
week.
Dell owns a 82% stake of VMware, a cloud infrastructure company
based in California. VMware Chief Executive Pat Gelsinger said in
prepared remarks Friday the company is "not in a position to
speculate on the outcome of Dell's evaluation."
For Dell, an IPO would bring the company into familiar
territory. Founder Michael Dell along with Silver Lake Partners
took the company private in October 2013. Silver Lake still has a
large stake in the tech company.
Dell, based in Round Rock, Texas, bought EMC, a data-storage
business, in 2016. It is considered the biggest takeover in the
tech industry.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
February 02, 2018 10:12 ET (15:12 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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