Round Rock-Based Dell Technologies Goes Public — Again

ROUND ROCK, TEXAS — If you've ever wanted to own shares of Dell Technologies, this could be your chance. Shareholders of the Round Rock-based tech giant on Tuesday voted to take the company public again after five years of being a privately held firm.

In a complex deal valued at around $23.9 billion, shareholders approved the so-called "reverse merger" that will allow for public trading of its common shares, according to a Dell Technologies press advisory. The move concurrently will simplify the company's stock structure as well as that of its YMware subsidiary, officials noted.

Shareholders owning more than 61 percent of Dell Technologies Class V comomon stock, not counting Dell affiliates, voted in favor of the move that is expected to be formally approved.

In announcing the move, Dell officials explained the move calls for the buyback of YMware tracking stock from the previous EMC acquisition. That stock buyback was valued at $120 per share for the $23.9 billion total. As a result, public trading of the company's stock will begin on Dec. 28 on the New York Stock Exchange under the DELL stock symbol.

Related story: Round Rock-Based Dell Inc. Completes Merger With EMC Corp, Yielding World's Largest Privately Held Tech Firm

Techcrunch.com financial writers wondered how Wall Street might respond to the $50 billion debt load the company is carrying as a result of the massive $67 billion EMC acquisition from two years ago. That factor notwithstanding, Chairman and CEO Michael Dell seemed gratified with the company's return to the Big Board: “With this vote, we are simplifying Dell Technologies’ capital structure and aligning the interests of our investors,” he said in a statement.

Dell originally went public in 1988 before taking the company private again in 2013 in a $24.4 billion buy-back. The tech firm is the state's largest privately held company, according to state officials, with revenue of $57 billion. That robust revenue makes Dell the sixth-largest company in Texas overall, according to the state tally.

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