Historic Dell and EMC Transaction Set to Close
Dell Inc. and EMC Corp. today announced that they intend to close the transaction to combine Dell and EMC on Wednesday, September 7, 2016. Dell Technologies, the name of the new combined company, will begin operating immediately following the close of the transaction.
Today’s announcement follows regulatory approval of the Dell and EMC transaction by China’s Ministry of Commerce, which has granted clearance for the companies’ proposed combination. MOFCOM approval was the final regulatory condition to closing the transaction. EMC shareholders approved the transaction on July 19, with approximately 98 percent of voting EMC shareholders casting their votes in favour of the merger, representing approximately 74 percent of EMC’s outstanding common stock.
“This is an historic moment for both Dell and EMC. Combined, we will be exceptionally well-positioned for growth in the most strategic areas of next generation IT including digital transformation, software-defined data center, converged infrastructure, hybrid cloud, mobile and security,” said Michael Dell, chairman and CEO of Dell Technologies.