July 19, 2016

Shareholders approve $67B EMC, Dell merger

The vote today took place at EMC Corp.'s headquarters in Hopkinton.

EMC shareholders voted today to approve the merger agreement with Dell at a special meeting in a nearly unanimous decision, with regulatory approval from China being the only remaining hurdle for the merger.

The vote Tuesday morning at the Hopkinton-based company's headquarters was 98 percent in favor of the merger of the two technology giants that has an estimated $67-billion price tag, the company announced in a release. The approval is based on a preliminary tally of votes representing approximately 74 percent of the company's common stock.

The transaction is now expected to close on the original terms and within the originally announced timeframe, subject to regulatory approval from China and satisfaction of customary closing conditions.

The combined company will continue to be called Dell, which is based in Texas. Following the merger, EMC will no longer be publicly traded.

The Dell-EMC merger was initially announced last September and has been approved by the European Commission and the U.S. Federal Trade Commission. The takeover's $67-billion price tag is far above the current record-holding tech buy -- the $25-billion sale of Compaq Computer to Hewlett-Packard in 2002.

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