As Bloomberg reports, Dell will appear on the NYSE via the buyout of its tracking stock, DVMT, in a cash and share-swap deal valued at $21.7 billion.
The shares, worth about $17 billion as of Friday, were created to mirror the value of software maker VMware Inc., in which Dell has a controlling stake. The move aims to simplify Dell’s tangled corporate structure without weighing on its balance sheet.
As part of the deal, VMware will pay DVMT shareholders an $11 billion special cash dividend and Dell will offer more shares -- or cash -- to make up the difference. Dell Technologies Class C common stock will become publicly listed on the New York Stock Exchange.