Dell Stockholders Approve Return to Public Markets, NYSE
In a prepared statement about the vote outcome, CEO Michael Dell said:
“We appreciate our stockholders’ support. With this vote, we are simplifying Dell Technologies’ capital structure and aligning the interests of our investors. This strengthens our strategic position, as we continue to deliver innovation, long-term vision and integrated solutions from the edge to the core to the cloud. We’ve created Dell Technologies to be our customers’ most trusted partner in their digital transformation.”
Dell has been privately held in recent years, growing its data center business through its growing partner program and various network, storage and server offerings. The company’s merger with EMC has performed well to extremely well, depending on which piece of the business you’re evaluating.
Still, Dell’s return to public markets has been hotly contested. Putting a value on the company has been complicated by Dell’s ownership stake in VMware. Activist investor Carl Icahn initially pushed back against Dell’s plan to return to public markets, but Icahn eventually embraced the idea when Dell sweetened the financial terms of the move.