HOPKINTON, Mass., July 19, 2016 /PRNewswire/ --
News Summary
- EMC shareholders today approved the merger agreement with
Dell.
- The transaction is expected to close on the original terms and
within the originally announced timeframe.
EMC Corporation (NYSE:EMC) announced that, based on a
preliminary vote tally from the Special Meeting of Shareholders
held earlier today, EMC shareholders approved the merger agreement
among Denali Holding Inc., Dell Inc., Universal Acquisition Co.,
and EMC, and approved the other two proposals described in EMC's
proxy statement relating to today's meeting.
Approximately 98% of voting EMC shareholders cast their votes in
favor of the merger, representing approximately 74% of EMC's
outstanding common stock as of the record date for the special
shareholder meeting. The final results will be available on a
Current Report on Form 8-K, to be filed later this week by the
company.
The transaction is 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.
Joe Tucci, EMC Chairman and CEO,
commented, "Today's resoundingly favorable shareholder vote clearly
supports our view that combining Dell and EMC will create a
powerhouse in the technology industry. The Board and I care
very deeply about, and have worked diligently to represent, what we
believe is the best outcome for all stakeholders. I want to thank
our shareholders for their support, as well as our customers and
partners. My special thanks to the talented people of EMC for
their hard work, dedication and passion."
Resources
- For more information about Dell and EMC combining visit
http://www.emc.com/futureready
About EMC
EMC Corporation is a global leader in
enabling businesses and service providers to transform their
operations and deliver IT as a service. Fundamental to this
transformation is cloud computing. Through innovative products and
services, EMC accelerates the journey to cloud computing, helping
IT departments to store, manage, protect and analyze their most
valuable asset — information — in a more agile, trusted and
cost-efficient way. Additional information about EMC can be found
at www.EMC.com.
EMC is a registered trademark of EMC Corporation in the United States and/or other
countries. All other trademarks used are the property of
their respective owners.
Important Legal Information
Disclosure Regarding Forward Looking Statements
This communication contains forward-looking information about
EMC Corporation and the proposed transaction that is intended to be
covered by the safe harbor for "forward-looking statements"
provided by the Private Securities Litigation Reform Act of 1995.
Actual results could differ materially from those projected in the
forward-looking statements as a result of certain risk factors,
including but not limited to: (i) the failure to consummate or
delay in consummating the proposed transaction; (ii) the risk that
a condition to closing of the proposed transaction may not be
satisfied or that required financing for the proposed transaction
may not be available or may be delayed; (iii) the risk that a
regulatory approval that may be required for the proposed
transaction is delayed, is not obtained, or is obtained subject to
conditions that are not anticipated; (iv) risk as to the trading
price of Class V Common Stock to be issued by Denali Holding Inc.
in the proposed transaction relative to the trading price of shares
of VMware, Inc.'s common stock; (v) the effect of the proposed
transaction on VMware's business and operating results and impact
on the trading price of shares of Class V Common Stock of Denali
Holding Inc. and shares of VMware common stock; (vi) the diversion
of management time on transaction-related issues; (vii) adverse
changes in general economic or market conditions; (viii) delays or
reductions in information technology spending; (ix) the relative
and varying rates of product price and component cost declines and
the volume and mixture of product and services revenues; (x)
competitive factors, including but not limited to pricing pressures
and new product introductions; (xi) component and product quality
and availability; (xii) fluctuations in VMware's operating results
and risks associated with trading of VMware common stock; (xiii)
the transition to new products, the uncertainty of customer
acceptance of new product offerings and rapid technological and
market change; (xiv) the ability to attract and retain highly
qualified employees; (xv) insufficient, excess or obsolete
inventory; (xvi) fluctuating currency exchange rates; (xvii)
threats and other disruptions to our secure data centers or
networks; (xvii) our ability to protect our proprietary technology;
(xix) war or acts of terrorism; and (xx) other one-time events and
other important factors disclosed previously and from time to time
in EMC Corporation's filings with the U.S. Securities and Exchange
Commission (the "SEC"). Except to the extent otherwise required by
federal securities law, EMC Corporation disclaims any obligation to
update any such forward-looking statements after the date of this
communication.
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SOURCE EMC Corporation