|Dell Technologies to Sweeten Deal for DVMT Tracking Shares|
Dell to boost cash portion of DVMT deal by about 50%, according to people familiar with the matter
By Cara Lombardo and Dana Cimilluca
Updated Nov. 14, 2018 12:34 p.m. ET
Dell Technologies Inc. plans to sweeten a $22 billion deal to buy out an affiliate and return to the public markets, according to people familiar with the matter—five months after the PC and data-storage giant’s initial proposal sparked intense shareholder opposition.
Under the new deal, which could be announced as soon as this week, shareholders of the affiliate, known as DVMT, would receive cash and stock worth more than the current $109-a-share price, the people said. Exactly how much will depend on how DVMT shares trade in a future period. Dell also will increase the $9 billion cash portion of the deal by about 50%, the people said.