Shareholders of #EMC Corp. will finally have their say on #Dell Inc.’s proposed acquisition of the giant data storage company. A special shareholder vote is set for July 19 at EMC’s headquarters in Hopkinton, according to a proxy statement filed on Monday with the US Securities and Exchange Commission.
The proposed acquisition, one of the biggest ever in the US technology sector, was originally valued at $67 billion. But the value of the deal has fluctuated considerably since it was announced in October of 2015, mainly because of the volatile stock price of VMware, a software company that is majority-owned by EMC. VMware shares plummeted in value after the deal was announced, though they have since recovered much of the loss. EMC shares have also slipped since last October.
Also on Monday, Denali Holding Inc., the holding company that controls Dell, announced the issuance of $3.25 billion in new debt to cover the costs of the EMC acquisition. Dell is expected to borrow as much as $50 billion to pay for the purchase.
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