Pivotal Software Shareholders Approve Acquisition by VMware
December 27 2019 - 4:41PM
Dow Jones News
By Stephen Nakrosis
Pivotal Software, Inc. (PVTL) on Friday said its shareholders
agreed to be acquired by VMware Inc. (VMW) in a deal with an
enterprise value of $2.7 billion.
Pivotal held a special meeting of shareholders to vote on the
deal.
The two companies disclosed the deal in August. At the time, the
companies said VMware would acquire Pivotal for a blended price per
share of $11.71. The deal will see VMware offer $15 per share in
cash to Pivotal's Class A stockholders, and the exchange of shares
of VMware's Class B common stock for shares of Pivotal Class B
common stock held by Dell Technologies (DELL). The Class B exchange
ratio will be 0.0550 shares of VMware Class B stock for each share
of Pivotal Class B stock, the companies said at the time.
At the completion of the deal, Pivotal said Friday, it will
become a wholly-owned subsidiary of VMware.
Pivotal also said Friday the deal is expected to close on or
about Dec. 30.
Pivotal sells application and data infrastructure software.
VMware is an information technology services company.
--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
December 27, 2019 16:26 ET (21:26 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
Vmware (NYSE:VMW)
Historical Stock Chart
From Mar 2024 to Apr 2024
Vmware (NYSE:VMW)
Historical Stock Chart
From Apr 2023 to Apr 2024
