The Wall Street Journal: Dell said to be near deal to acquire VMware tracking stock

Dell Inc. is nearing a deal to combine with shares that track its fast-growing VMware Inc. virtualization-software unit, a move that would give the PC and data-storage giant a public listing once again, according to people familiar with the matter.

Dell plans to announce as early as Monday that it is acquiring DVMT tracking stock via a share swap, according to people familiar with the matter.

Terms of the agreement, which could still fall through, couldn’t be learned, but DVMT shareholders are expected to receive several billion dollars in cash as part of the deal. Dell Technologies Inc. has a market capitalization of nearly $ 17 billion, while VMware’s VMW, +0.58%   is nearly $ 60 billion, after the shares rose this year on the possibility of a deal.

The move would culminate a strategic review Dell has been conducting for months. Other options it considered include a combination with VMware itself or a straight initial public offering, the company has said.

An expanded version of this report appears on

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