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Dell’s shares soar as it unveils VMware stock spinoff plan

Dell’s shares soar as it unveils VMware stock spinoff plan

Dell’s shares rose by as much as 9 percent after it announced that it will go ahead with a plan to spin off shares of VMware in a deal that should happen in the fourth quarter. It is believed that the move will help Dell pay down debt. VMware will collectively distribute a cash dividend worth $11.5 billion to $12 billion to shareholders, with Dell being set to receive $9.3 billion to $9.7 billion.

Tom A
Tom A
Top in Business