July 1, 2018 / 8:04 PM / 17 days ago

Dell near deal to swap out DVMT tracking shares -WSJ

July 1 (Reuters) - Dell Inc is close to a deal to combine shares that track its VMware Inc virtualization-software unit in an effort that would result in a public listing for the personal computer and data storage company, the Wall Street Journal said on Sunday.

Citing people familiar with the matter, the newspaper said Dell has been conducting a strategic review for months and plans to announce the deal as early as Monday.

Details on the acquisition of the DVMT tracking stock , which could still fall through, could not be learned, the WSJ said.

Other options Dell considered included a combination with VMware or an initial public offering, it said.

DVMT has a market capitalization of $17 billion, while that of VMware is about $60 billion after their stock prices increased this year on the possibility of a deal, according to the paper. (Reporting by Richard Leong Editing by Paul Simao)

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