EMC Corp. will ask shareholders to approve Dell Inc.'s takeover bid on July 19, according to a Monday filing with the U.S. Securities and Exchange Commission.
The special meeting of shareholders will take place at 10 a.m. at EMC's headquarters in Hopkinton, Mass.
In addition, the filing says, owners of EMC stock will be asked to "approve, on a non-binding advisory basis, the compensation payments that will or may be paid to EMC to its named executive officers in connection with the merger."
This shareholders' vote is one of the crucial last steps toward closing the deal. Round Rock-based Dell Inc. has been working for months to get the cash it needs to close the deal.
It's rare for shareholders to vote against a merger and in this case, there hasn't been a ton of shareholder angst.
Shareholders are set to receive $33.15 per share, which includes cash plus tracking stock linked to part of EMC's economic interest in the VMware business.
Dell agreed to buy EMC last October for $67 billion, making it the biggest information technology purchase in history. When the deal is complete, the newly combined company will be called Dell Technologies.
News on Open Source is free and unlimited. Access to the rest of 512tech.com comes with an American-Statesman digital subscription, which also includes myStatesman.com and the ePaper edition. Subscribe at statesman.com/subscribe.