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For mobile: > Under the terms of the transaction, Pivotal's Class A common stockholders will receive $15.00 per share cash for each share held, and Pivotal's C
by xigency 7y ago
For mobile:
> Under the terms of the transaction, Pivotal's Class A common stockholders will receive $15.00 per share cash for each share held, and Pivotal's Class B common stockholder, Dell Technologies, will receive approximately 7.2 million shares of VMware Class B common stock, at an exchange ratio of 0.0550 shares of VMware Class B common stock for each share of Pivotal Class B common stock. This transaction, in aggregate, results in an expected net cash payout for VMware of $0.8 billion. The impact of equity issued to Dell Technologies would increase its ownership stake in VMware by approximately 0.34 percentage points to 81.09% based on the shares currently outstanding. VMware currently holds 15 percent of fully-diluted outstanding shares of Pivotal. The transaction is expected to be funded through cash on the balance sheet, accessing short-term borrowing capacity, and approximately 7.2 million shares of VMware Class B common stock to Dell.
- gigatexal 7y agoThank you!
- raviolo 7y agoThis is why I enjoy HN community
- techslave 7y agobecause of the ability to quote TFA? personally i enjoy it because of insightful comments
- maimeowmeow 7y agoabsolutly not
- Vosporos 7y agohahaha good one
- tru3_power 7y agoCan anyone here chime in and explain what the purpose is of this?
- y2kenny 7y agoThe fixed line break probably make reading difficult on a small, narrow, variable width screen such as mobile.
- mcnichol 7y agoThe 21st century equivalent of "Who's on First"
- dmix 7y agoThe stock arrangement?
- techpop10 7y agoUltimately, this transfers shares to Dell that, most likely, provides liquidity that could be used to pay a little bit of their massive debt ($56B) that is choking them. Dell is in financial trouble. See https://seekingalpha.com/article/4278101-dell-technologies-much-debt https://seekingalpha.com/article/4278101-dell-technologies-m...