• Dell Technologies Inc. (NYSE: DELL) announced the agreed spin-off of its 81% stake in a cloud computing and virtualization technology company VMware Inc. (NYSE: VMW). The transaction will be implemented in two independent listed companies.
  • Dell Technologies will receive $ 9.3 billion to $ 9.7 billion from the spin-off to be used to repay debt.
  • VMware will grant a special cash dividend of $ 11.5 billion to $ 12 billion to VMware shareholders, including Dell.
  • The companies will agree to maintain their exclusive and pre-eminent approaches to developing critical solutions and aligning sales and marketing activities. VMware will continue to use Dell Financial Services to fund its customers’ digital transformation.
  • Michael Dell remains Dell Chairman and CEO …

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