Dell Technologies reportedly could emerge as a public company through a reverse-merger with VMware, the $60 billion cloud computing company it already controls.

The "reverse merger, whereby VMware would actually buy the larger Dell, would then allow Dell to be traded publicly without going through a formal listing," CNBC reported.

"It would also likely be the biggest deal in tech industry history, giving investors who backed Dell's move to go private in 2013 a way to monetize their deal, while helping Dell pay down some of its approximately $50 billion debt," sources told CNBC.

Dell's board of directors will meet later this month to consider the biggest shakeup in the company's history since it acquired data storage provider EMC Corp. for $67 billion in 2016, sources told Reuters last week.

The Round Rock, Texas-based company, headed by its founder Michael Dell, is under pressure to boost its profitability after the EMC deal failed to deliver the cost savings and performance it projected, while higher component costs and a challenging data storage market have eroded its margins.

Dell is reviewing a list of several possible acquisition targets that would boost its cash flow and expand its offerings, the sources told Reuters.

The share price of VMware dropped as much as 11 percent, the steepest decline in two years, after the CNBC report, Bloomberg reported.

(Newsmax wire services contributed to this report).

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