Dell Technologies is reportedly exploring the launch of an initial public offering (IPO) rather than a proposed acquisition as its route to going public.
According to the Wall Street Journal, the US-based IT and software giant is planning to meet with banks this week to discuss the prospect of an IPO after it was reported that several investors had raised objections to a proposed acquisition.
The interviews will focus on an underwriting role for the banks and will mean the company postpones a roadshow aimed at selling a $21.7 billion deal which would have involved buying back specialised tracking stock shares linked to VMware, Dell’s cloud computing software subsidiary, according to Reuters.
Dell did not respond to an immediate request to comment on the reports.
Last week, Tom Sweet, the company’s chief financial officer, said the company would return to the “status quo” if is investors resisted the tracking stock option.
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