Dell Technologies will become a public company again December 28.
The company said it received shareholder approval to buy back a tracking stock that’s linked to its stake in VMware.
In a nutshell, Dell will close the deal December 28 and its C shares will trade on the New York Stock Exchange under the DELL ticker.
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Dell’s buyout plan had its controversy as Carl Icahn opposed the deal, the company sweetened its offer and Icahn dropped a proxy fight.
CEO Michael Dell said going public will simplify the company’s capital structure and help it deliver on its long-term vision to be at the core of digital transformation.
In 2016, Dell cited that same long-term vision when his company went private and acquired EMC. Dell said his company can think in decades as a private company without the hassle of quarterly earnings reports.
Overall, Dell has performed well as a private company, paid down its core debt and fared well with its PC and data center businesses.
However, tax law changes meant that Dell couldn’t write off the interest on its debt and that reality could have hampered the company.