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Dell buys information services giant EMC in largest tech deal ever
2015-10-12 18:05:10| Extremetech
Dell just bought information services giant EMC in the largest tech deal ever. The move gives Dell new positioning in the cloud services market.
Tags: information
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Dell buys EMC for USD 67 bln, VMware to remain independent
2015-10-12 16:48:00| Telecompaper Headlines
(Telecompaper) Dell has agreed to buy EMC for an estimated total of USD 67 billion, or USD 33.15 per share in cash. The price is fluid as part of the money will be paid in tracking stock linked to a portion of EMC's stake in VMware. The combination will create the world's largest privately-controlled, integrated technology company, bringing together expertise in digital transformation, software-defined data centre, hybrid cloud, converged infrastructure, mobile and security. It will be a leader in the USD 2 trillion IT market with complementary product portfolios, sales teams and R&D investment strategies. Under the terms of the agreement, EMC shareholders will receive USD 24.05 per share in cash and 0.111 shares of new tracking stock for each EMC share. The amount assumes, for illustrative purposes, a valuation for each share of tracking stock of USD 81.78, the intraday volume-weighted average price for VMware on 7 October. The value of the tracking stock may vary from the market price of VMware given the different characteristics and rights of the two stocks. VMware will remain a publicly-traded company and continue to provide customers software-defined data centre technology, together with its cloud, mobile and desktop offerings.
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Dell agrees $67bn EMC takeover
2015-10-12 13:35:57| BBC News | Business | UK Edition
US computer giant Dell agrees a deal to buy data storage company EMC for $67bn.
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Dell seen making USD 53 bln bid for EMC this week - report
2015-10-12 09:46:00| Telecompaper Headlines
(Telecompaper) Dell is now expected to make its over USD 53 billion offer for data storage maker EMC on 12 or 13 October, Reuters reported, citing people familiar with the matter. EMC has agreed to an offer worth USD 33 a share, including USD 27 in cash, for EMC shares with the rest in new securities tied to the value of VMware, the data centre software maker that EMC controls. As part of the deal, EMC will have up to 60 days to seek a better offer from other potential suitors, said people briefed about the transaction. EMC asked for a 'go-shop' provision to be included in the merger agreement that will allow it to solicit bids from other parties and pay a discounted breakup fee to Dell if there is a deal with another company. The sources added that the clause was EMC CEO Joseph Tucci's way of exhausting all arguments to convince the company's shareholders that a deal with Dell is the best possible outcome for them. The negotiations between Dell and EMC, as well as talks with banks about securing the necessary debt financing, continued on 11 October, and the two sides hope to unveil an agreement on 12 or 13 October.
After-Hours Moves Led By Orexigen Therapeutics, EMC, Clean Energy Fuels And Cadiz
2015-10-10 23:35:08| Agriculture - Topix.net
Orexigen Therapeutics, Inc. was the biggest gainer in Friday's after-hours session. The stock, which surged 6.3 percent over the day on news of The Baupost Group having reported a 17.17 percent stake in the small-cap biopharmaceutical company, continued to rise after the bell, up more than 12 percent.
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