M&A News: SecureWorks Stock Soars 16% on Possible Dell Deal


SecureWorks (NASDAQ:SCWX) is the subject of M&A news on Monday following talk that Dell (NYSE:DELL) wants to pick it up.

M&A News: SecureWorks Stock Soars 16% on Possible Dell Deal

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According to this recent M&A news, Dell wants to buy out the remaining outstanding shares of SCWX stock that it doesn’t already own. That’s not much as only 13.8% of SecureWorks stock doesn’t belong to the tech company.

Neither Dell or SecureWorks are talking about the possible deal. Instead, anonymous sources close to the matter are behind this M&A news. It’s an interesting shift as previous reports claimed Dell was looking to sell its stake in the company.

The sources close to the deal claim that Dell is interested in bringing SecureWorks into its fold. This would have it consolidating the company into it if a deal goes through. However, it’s worth noting that there’s currently no guarantee Dell will move forward with these plans, reports Bloomberg.

We still don’t know any of the finer financial details of the dealings between Dell and SecureWorks. That includes how much the company would be willing to offer to require all outstanding shares or when a deal may be announced. What is worth mentioning is that Dell currently holds 98.4% of votes for the company.

SCWX stock was up 15.65% as of Monday afternoon. The stock previously closed out the day on Friday at $15.18. It’s currently down 5.38% since the start of the year.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2019/12/ma-news-secureworks-stock-soars-16-on-possible-dell-deal/.

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