Menu
​All systems go as EMC shareholders back Dell deal

​All systems go as EMC shareholders back Dell deal

Deal could now be finalised in late July or early August.

Joe Tucci - CEO and Chairman, EMC and Michael Dell - CEO, Dell

Joe Tucci - CEO and Chairman, EMC and Michael Dell - CEO, Dell

EMC shareholders have approved the tech giant’s upcoming multi-billion dollar acquisition by Dell, setting the wheels in motion for the creation of the largest technology merger in history.

Unsurprisingly, approximately 98 per cent of voting EMC shareholders cast votes in favour of the merger, representing approximately 74 per cent of EMC’s outstanding common stock as of the record date for the special shareholder meeting.

Following the preliminary vote tally, the final results will be available on a Current Report on Form 8-K, to be filed later this week by the company.

“Today’s resoundingly favourable shareholder vote clearly supports our view that combining Dell and EMC will create a powerhouse in the technology industry,” EMC Chairman and CEO, Joe Tucci, said.

“The Board and I care very deeply about, and have worked diligently to represent, what we believe is the best outcome for all stakeholders.”

Tucci said the transaction is expected to close on the original terms and within the originally announced timeframe of “May-October”, subject to regulatory approval from China and satisfaction of customary closing conditions.

Despite an initial valuation of $US67 billion, plummeting VMware shares have since reduced the size of the deal to around $US60 million, with rumours rife that the deal will be finalised as early as late July or the beginning of August.

Follow Us

Join the New Zealand Reseller News newsletter!

Error: Please check your email address.

Tags DellstoragesecurityMIchael DellCloudjoe tucciData Centreemc

Slideshows

Meet the leading HP partners in New Zealand...

Meet the leading HP partners in New Zealand...

HP has recognised its top performing partners in New Zealand at the second annual 2016 HP Partner Awards, held at a glittering bash in Auckland. The HP Partner Awards recognises and celebrates excellence, growth, consistency and engagement of its top partners. This year also saw the addition of several new categories, resulting in 11 companies winning across 11 award categories.

Meet the leading HP partners in New Zealand...
Channel comes together as Ingram Micro Showcase hits Auckland

Channel comes together as Ingram Micro Showcase hits Auckland

Ingram Micro outlined its core focuses for 2017 at Showcase in Auckland, bringing together the channel for a day of engaging keynotes, compelling breakout sessions and new technologies.

Channel comes together as Ingram Micro Showcase hits Auckland
Show Comments