PC pioneer Michael Dell is set to cap his climb back to the top of the computing world on Monday with one of the largest corporate spin-offs.
Dell Technologies will shed its 81 per cent stake in publicly traded VMware, creating an independent software company with a stock market value of nearly $64bn. Dell’s remaining hardware operations have an implied value of $33bn, based on its latest share price.
The transaction, first disclosed in April, completes an eight-year saga in which the Texan entrepreneur turned his $3.8bn interest in an out-of-favour PC maker into a personal stake in a broader date centre hardware and software empire worth $40bn.
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