Dell is one step closer to the biggest tech merger in history

Michael DellOracle PR/FlickrMichael Dell

Dell and EMC have taken another step toward completing their mega-merger. The deal has cleared the FTC waiting period, meaning US regulators are good with it.

Europe is reportedly ready to approve the deal, soon, too.

EMC shareholders haven’t voted on it yet, but one of the activist hedge fund shareholders — who had wanted Dell and EMC to make some changes — is ready to get on board and back the deal, so there’s very little resistance left on that count, reports Re-Code’s Arik Hesseldahl.

Dell announced its intent to buy EMC for $67 billion in October in a deal that involved a lot of debt and complicated financing, including turning the VMware shares that EMC owns into a tracking stock. EMC owns about 81% of VMware.

Earlier this month, EMC board member Bill Green told investors at the Goldman Sachs Technology and Internet Conference that the deal had been so carefully orchestrated that only an “act of God” would keep it from happening.

VMware shareholders besides EMC haven’t been thrilled. The stock is down about 30% since the merger was announced, and is down another 2% on this news, trading at just under $49.

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