EMC Shareholders Okay Merger Agreement With Dell

(RTTNews) - EMC Corp. (EMC) said that its 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 time frame, subject to regulatory approval from China and satisfaction of customary closing conditions.

In October 2015, PC maker Dell Inc. agreed to acquire data-storage company EMC Corp. for about $67 billion in cash and stock, while maintaining EMC's virtualization software company VMware Inc. (VMW) as a publicly-traded company. The acquisition would be made by Dell, together with its owners, Michael Dell, founder, chairman and chief executive officer of Dell, MSD Partners and private equity firm Silver Lake.