VMware could acquire its parent company Dell in what would be the largest tech merger of all time, according to reports.
CNBC, citing people familiar with the matter, said that the reverse merger would act as a mechanism for listing Dell on the New York Stock Exchange without having to go through a formal listing.
The news outlet said the deal would act as a way for Dell to pay off some of its debt, which sits at around $50bn (£35.5bn) following its acquisition of EMC, and would also give shareholders a way of realising part of their investment.
Rumours of a change in Dell and VMware's ownership structure first surfaced last week, when Bloomberg reported that parent company Dell Technologies was weighing up various strategic options.
A straightforward IPO was mooted, as well as a deal to take full ownership of VMware - of which Dell currently owns 80 per cent.
VMware's share price has tanked more than 23 per cent since Friday afternoon.
Should Dell decided to roll with it, both Michael Dell and private equity owner Silver Lake Partners would be issued shares by VMware which could then be sold on the stock exchange, according to CNBC.
Dell has been private since Michael Dell completed a Silver Lake-backed deal in 2013.
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