REUTERS - U.S. computer maker Dell Technologies Inc said on Monday it will buy out the holders of shares that track the performance of VMware Inc (VMW.N) using a mix of cash and equity in Dell.

The move marks the end of a strategic review that Dell has been conducting for several months as it has sought to consolidate its complicated ownership structure without overburdening its balance sheet, which bears around $50 billion in debt. Dell said it will propose to exchange each share of VMware tracking stock for 1.3665 shares of Dell Technologies Class C common stock, or at the holder’s election, $109 in cash, subject to the total amount of cash consideration not above $9 billion.

Dell said it will offer a new class of publicly listed common stock on the New York Stock Exchange following completion of the deal.