|Bid||0.00 x 900|
|Ask||96.21 x 1300|
|Day's range||94.15 - 95.33|
|52-week range||60.98 - 96.15|
|PE ratio (TTM)||N/A|
|Earnings date||5 Sep 2018 - 10 Sep 2018|
|Forward dividend & yield||N/A (N/A)|
|1y target est||104.67|
Sanjay Poonen, the chief operating officer of virtualization software pioneer VMware (VMW) was in town from the company’s Palo Alto, Calif., headquarters today, and was kind enough to stop by once again at Barron’s offices to discuss a number of themes, including last week’s deal by VMware corporate parent Dell to go public. Poonen was last in our office back in December, and it’s always a pleasure to chat with him about big tech trends, as well as progress at VMware. Dell’s deal sees the privately held operation swap its common stock for the publicly traded “DVMT” shares, which are a tracking stock representing Dell’s 81% stake in VMware.
Wall Street doesn’t think much of Dell Technologies, and that could hurt Dell’s plan to buy out the holders of a tracking stock for VMware, the software company controlled by Dell. The now-private Dell has begun meeting with holders of both the tracking stock, Dell Technologies Class V (DVMT), as well as VMware (VMW) in what amounts to an IPO roadshow. Dell management, including Vice Chairman Jeff Clarke and Chief Financial Officer Tom Sweet, met today in Manhattan with a group of institutional investors, according to one investor present.
As your company goes public again, remember that the little things matterMichael Dell Hey, Michael Dell — can you give me a ring?I realize you’re busy engineering your namesake company’s comeback as a public business, through a complex deal involving the conversion of tracking V shares from Dell unit VMware that can be reissued as common C shares on the New York Stock Exchange.
‘VMware wanted to stay separate, but they also wanted to show they were part of the happy Dell family,’ analyst saysGetty“As financial engineers, there’s hardly anyone in the game that’s better,” one analyst says of Michael Dell and his company. A few years after leaving the public markets, Dell Technologies Inc. is taking a back door to return. Dell (DVMT) intends to convert a special stock that tracks the company’s stake in VMware Inc. (VMW) , known as class V shares, into class C common stock in Dell that will be publicly traded.
Billionaires like John Malone and Warren Buffett have long viewed their shareholders as business partners. To be sure, holders of the Dell tracker, Dell Technologies class V (DVMT), will be bought out at a 29% premium to the depressed price of the tracking stock.
Ryan McQueeney and Ben Rains take on this week's biggest stories, including MoviePass' struggle to survive, the return of PC giant Dell to public markets, Tesla's historic-yet-disappointing milestone, and Micron's legal battle in China.
Michael Dell, announcing a deal on Monday to take his privately held Dell Technologies public, in a stock swap with his tracking stock, DVMT, spoke of a vast wave of investment in information technology that’s underway, one he hopes to benefit from. Dell’s view runs counter to the popular narrative, which is that information-technology products, especially traditional hardware “gear,” such as servers and storage equipment, are markets that are besieged by cloud computing, and therefore show little opportunity. Dell is not the only one who believes in a future for IT gear: Morgan Stanley analyst Katy Huberty, who has been one of the most resolute bulls on out-of-favor names such as International Business Machines (IBM) and Hewlett Packard Enterprise (HPE), today offers up her own message of hope—“signposts” are emerging for “the data era,” she writes in a note to clients.
When Michael Dell took his PC company public in 1988, he was 23. Over the course of time his holding was whittled down to 14 per cent, with no special rights, and the PC pioneer had to fight a pitched battle with Wall Street before succeeding in taking his company private again. Mr Dell is now getting a do-over — and he won’t be making the same mistake twice.
One thing to start: Ex-WPP boss Martin Sorrell has set his sights on the first target for his new venture. It’s a Dutch digital production company called MediaMonks and Sorrell is in talks to buy it for €200m. When Michael Dell joined forces with tech-focused private equity group Silver Lake to buy out his namesake PC company, few believed the Texan entrepreneur would pull it off. Five years on, Dell has seen his original $3.5bn equity stake in Dell Technologies grow into a $35bn stake, while Silver Lake’s $1.4bn investment is now worth about $14bn.
Michael Dell’s first fortune came from selling made-to-order PCs. But the type of engineering that is about to get him a place back at the top of the technology world is more of the financial kind. Mr ...
Michael Dell is returning his eponymous technology company to public markets, after extolling the virtues of being private for years. Dell Technologies Inc.’s meticulously orchestrated plan to trade Class C shares on the New York Stock Exchange will give the computer and software maker all the advantages of a public listing with few of the drawbacks that caused the company to retreat in a 2013 leveraged buyout. Dell, who’s been in the tech business for 34 years, is in some ways taking a lesson from younger founders, such as Evan Spiegel of Snap Inc.: maintain as much control as possible and be less beholden to the whims of outside investors.
VMware stock surged after parent Dell Technologies on Monday said it will acquire its publicly traded tracking stock, a move that reduces the likelihood a reverse merger of VMware. Dell would re-emerge as a public company.
Quick, it’s nine hours after Michael Dell said he’d buy the VMware tracking stock for $109 apiece. While rallying nicely, shares of the almost-two-year-old security remain $17 below the implied value in today’s announcement, potentially a sign of market skepticism toward the Dell stock being exchanged. Unlisted shares of Dell Technologies make up 60 percent of the deal’s consideration.
A proposed combination of privately held Dell Technologies with the tracking stock for VMware, looks bullish for both the tracking stock and VMware. The $21.7 billion deal, which was announced this morning, would also be a boon to Dell CEO and controlling shareholder Michael Dell, who would be able to retire the Dell tracker for considerably less than the value of the underlying VMware shares. The deal, if approved by shareholders, would allow Dell to go public, albeit in a complex way.
Dell bond investors breathed a sigh of relief on Monday when the computer maker said it will once again go public with a plan that won’t add new debt and will simplify its capital structure. Bonds issued by Dell Technologies Inc. rose following the announcement that the world’s largest private technology company will offer a new class of publicly traded common stock by buying out its VMware Inc. tracking stock, known in the public market as DVMT. Some bondholders had been concerned that a transaction with VMware, of which Dell owns 81 percent, would require debt financing.
Dell announced on Monday that it would offer a new class of publicly listed common stock following the completion of a proposed exchange of Dell Technologies Class V tracking stock (DVMT) for a new Class C stock.
Michael Dell thinks there’s plenty of infrastructure to be sold, as companies “go digital,” to use the rubric of the times. Dell spoke on CNBC’s “Squawk Box” earlier with David Faber and Sara Eisen, discussing the plan, announced this morning, to take his company, Dell Technologies, public again, almost five years since he took the firm private in a $25 billion leveraged buyout. Michael Dell will continue to own the majority of Dell stock and will retain the chairman and chief executive titles.
Dell is going public again after a five-year sojourn as a privately held company. In the $21.7 billion agreement announced Monday, the PC and data storage company is offering to exchange tracking stock for a new class of common shares, simplifying the complex ownership structure that is still held mostly by founder Michael Dell. The investment firm Silver Lake and Michael Dell took Dell Technologies Inc. private in 2013 as the company struggled, seeking a freer range of movement that comes with more distance from Wall Street and investors.
Dell Technologies Inc. is choosing the path of least resistance. As a means of returning to the public market, Dell will buy out the DVMT tracking stock that's meant to reflect the value of VMware Inc., a virtualization software maker it gained control of via its $67 billion merger with EMC Corp. in 2016. The terms of this latest deal are predictably complicated, but the net of it is that owners of the tracking stock can exchange their holdings for stock in a public Dell entity or $109-a-share in cash.
Dell is buying the stock that tracks its majority interest in VMware, taking a step toward becoming a public company again. Fred Katayama reports.