Companies to combine pending China regulatory approval
- 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.
HOPKINTON, MASS. , JULY 19, 2016 - 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.”