EMC Corp shareholders are set to vote Tuesday on whether to approve Dell Inc.'s $67 billion takeover of the data storage giant.
Industry analysts say they expect the deal to easily win approval at the special meeting of shareholders at EMC's headquarters in Hopkinton, Mass.
“They are operating as if the deal is done,” Steve Duplessie, a senior analyst at Enterprise Strategy Group in Milford, Mass., told the Boston Globe. “I don’t know anybody that’s against it at this point.”
There also hasn't been significant public shareholder opposition to the deal.
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.
Round Rock-based Dell Inc. agreed last October to buy EMC for $67 billion, making it the biggest information technology purchase in history.
Dell Inc. has been working for months to get the cash it needs to close the deal. Dell Inc. has sold assets, launched an IPO of one of its subsidiaries and sold bonds.
When the deal is complete – which is expected to be before the end of the year -- the newly combined company will be called Dell Technologies.
Dell Inc. is the largest private employer in Central Texas with about 13,000 area employees. The company employs more than 100,000 people globally.
The company’s revenue in its fiscal first quarter was $12.5 billion, a 2 percent decline from the same period a year ago, according to figures released by the company in June.
Dell Inc. also said it reduced its operating loss by 52 percent and grew its operating income by 37 percent year-over-year.
The privately held company reported the data in a filing with the U.S. Securities and Exchange Commission. As part of Dell Inc.'s efforts to buy publicly traded EMC Corp., it is required to disclose information about its finances.
Dell Inc. disclosed its financial data under the name Denali Holdings, which is a holding company controlled by Dell founder and CEO Michael Dell.
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