EMC at the time owned the majority of VMware, a separate tech company, and the stock was created to represent the combined company's holdings in VMware.
Meanwhile, VMware will issue an $11 billion dividend, with $9 billion going to Dell.
Dell Technologies has offered to buy shares that track its interest in software firm VMware, a move that would mark a re-emergence into the public markets for Dell. Dell will use its proceeds of the dividend to fund the cash consideration for Class V stockholders.
Michael Dell, who will continue on as CEO and chairman after the deal, said he remains committed to the company's long-term strategy and the independence of VMware. Other options have included a Dell public offering or combination with VMware, Dell said in a January filing. For each share of Dell Technologies Class V tracking stock, shareholders will receive 1.3665 shares of Dell Technologies Class C common stock - or $109 in cash.
Dell went private in 2013, in a $25bn transaction with Silver Lake private equity business, with the intent of reshaping the business for the long term in ways that would not have been compatible with the quarterly reporting burden needs of public ownership, and consequent dependency on stock values driven by the reports.
Shares in DVMT, which last closed at $84.58, rose 13% in premarket trading.
Dell's strategy is beginning to pay off, as companies look to one-stop shops to help them manage their IT infrastructure on the cloud.
Dell had also said earlier this year it was considering a full merger with VMware. While that scenario didn't quite play out, VMware is still integral to Dell's strategic maneuvering. Dell reported consolidated adjusted cash flow of $2.4 billion in its latest quarter, up by a third year-on-year.
After the deal, expected to close in the fourth quarter, holders of Dell's tracking stock will own between 20.8 percent and 31 percent of Dell depending on how many investors opt for cash, Dell said.
"After the transaction concludes, I am looking forward to VMware's continued independent status, strategy and capital allocation policy for organic investment, M&A and shareholder returns". "The company paid down 25 percent of its $42 billion debt in two years and cash flow is strong".
Ahead of her border visit, Melania Trump dons a jacket that says 'I really don't care. "She does not care about these children". Another classroom had five cribs lined up against a wall. "Como estas?" the first lady said in Tucson , greeting the children.
Belgium very almost responded instantly, with Eden Hazard rocketing a shot off the post just after the reset. After catching a corner, Courtois rolled it to Kevin De Bruyne, who found Steven Meunier on the right wing.
The knife used in the stabbing was discarded before his arrest, and police searched the complex and a nearby canal for the weapon. Timmy Kinner was charged with wounding six children and three adults in the Saturday night attack at a Boise apartment complex.
In less than a day, a GoFundMe site set up for Schaffer raised more than $50,000 to help with medical expenses and travel . She underwent a double leg amputation after suffering life-threatening injuries from the incident.
Ramos appealed at least two of the three peace orders filed against him. "It is hard to keep up with them", Altomare said. The newspaper decided against filing charges because it did not want to put "a stick in a beehive", he wrote .
There had been rumours for weeks about the Greek defender making the switch from Borussia Dortmund and now everything is official. Sokratis was previously been linked with a move to Manchester United, but has instead opted to join Arsenal .
He produced one of the highlights of the day when his tee shot on the 201-yard par-3 ninth went with inches of going in the hole. They are four shots off the lead in a tie for 10th after shooting three-under par 67s. "We did a few things I'm very proud of".
In fact, James might not even speak with top team officials before making a decision on his destination for next season. LeBron was welcomed to the side by some of the best players from the Lakers, Kobe Bryant , and Kareen Abdul-Jabbar.
I have a very strong partnership with Davinson Sanchez and Kane will not have an easy time against us. The Three Lions are bidding to reach the last eight of the World Cup for the first time since 2006.
Key GOP senator says no Roe v. Wade opponent for high court
President Trump has announced that he will name a candidate to replace retiring Associate Justice Anthony Kennedy on July 9. Collins and fellow senator Lisa Murkowski of Alaska are the only two nominally pro-choice Republicans in the Senate.
Prince William concludes trip with tour of holy sites
Jordan's King Abdullah was particularly against such a move and expressed this during his visit to the White House this week. The official explained that 175 journalists also received injuries due to attacks by Tel Aviv troops.
Game over for Messi's Argentina, Ronaldo's Portugal
Portugal hasn't reached the World Cup quarterfinals since 2006, when a young Ronaldo led the team to the semifinals. Edinson Cavani gave Uruguay the lead after just six minutes of play, heading home a Luis Suarez cross.
LeBron James leaves Cleveland Cavaliers for Los Angeles Lakers
Oh, yes, there were memes on memes on memes, and it all starts with a great call-back to that photo from the 2018 NBA Finals. The Cavs are now faced with a roster that has more than $102 million in guaranteed contracts, and little chance to contend.
Mexico eliminated from World Cup with loss to Brazil
The Paris Saint-Germain forward broke the deadlock shortly after half-time in the last-16 clash by poking home from close range. After their slow start it was ultimately no more than the Selecao deserved, as their bid for a sixth world title marches on.
Mbappe to donate world cup match fees to charity
Mbappe-affiliate charity Premiers de Cordees - a children's charity which focuses on the disabled - will also benefit. And he has helped them well on their way to completing that goal - bagging two in the last-16 clash with Argentina .