Dell Technologies Inc. said on Tuesday it has received shareholder approval for its earlier announced deal to buy back shares tied to its interest in software maker VMware, paving the way for it to return to the market.
Dell said its Class C shares are expected to begin trading on the New York Stock Exchange on Dec. 28.
The company had sweetened the offer for the VMware tracking stockholders to $23.9 billion from $21.7 billion in November.
The deal, announced in July, allows Dell to become a publicly listed company without an initial public offering, which would likely have involved grilling by stock market investors over Dell's $52.7 billion debt pile.
The company last week reported a 15 percent rise in quarterly revenue to $22.5 billion, as businesses were forced to upgrade their systems running on older Windows technology and on strong performance by software maker VMware.
It reported an 11 percent jump in revenue from its Client Solutions Group, which includes products such as desktop PCs, notebooks and tablets, and branded peripherals, for the third quarter ended Nov. 2.
The gain was largely due to businesses looking to replace their older machines following Microsoft Corp's decision to stop all support for its Windows 7 operating system early in 2020.
Dell had 17 percent of the global PC market share year-to-date, behind HP Inc.'s 23 percent and Lenovo Group's 21 percent share, according to data from Canalys.
VMware also posted robust results, beating on both profit and revenue estimates on strong demand for its software to boost cloud computing efficiency.
