Benzinga | Sep 27, 2021 08:50AM EDT

IRS Intimates Tax Free Status Of Dell-VMware Spin-Off

* The U.S. Internal Revenue Service confirmed the tax-free status of Dell Technologies Inc's (NYSE:DELL) planned spin-off of VMware Inc (NYSE:VMW) for federal income tax purposes.

* Dell had announced the prearranged spin-off of its 81% equity ownership interest in cloud computing and virtualization technology company VMware. The transaction will translate into two standalone listed companies.

* Price Action: DELL shares traded lower by 0.84% at $103.01 in the premarket session on the last check Monday.