Dell is ready to hit public markets once again after going private in 2013. The company announced today (via Bloomberg) that it has committed to a deal worth $21.7 billion through which it will purchase its own Dell Technologies Class V tracking stock and offer a "new class of publicly listed common stock."
The Class V stockholders will have the option to elect $109 in cash consideration per Class V share, up to $9 billion in aggregate, which represents a 29% premium to the Class V closing share price immediately prior to announcement
$109 in value per share implies a total market capitalization of $21.7 billion for the Class V stockholders
In a separate release, Dell says that it considered a number of options for "maximize value" for shareholders, including its current plan, as well as a "negotiated business combination" with VMware.
Dell was initially taken private in 2013 as the company looked to revamp its enterprise and personal computing strategies without scrutiny by investors. That deal included a $24.4 billion buyout and a $2 billion loan from Microsoft.
In the personal computing space, Dell has seen success with its stylish XPS line in recent years, along with a renewed push into the gaming niche. However, its in the enterprise, where Dell bolstered its efforts with its 2016 acquisition of EMC, that the company has begun to see momentum pick up with its virtualization an server offerings.
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