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Kevin OBrien

Dell to Buy EMC in Deal Worth $67 Billion

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In a huge announcement, Dell unveiled that it has signed a definitive agreement that they will acquire EMC Corporation all the while maintaining VMware as a publicly-traded company. The terms of the agreement indicate that EMC shareholders will receive $24.05 per share in cash in as well as $9.10 of a tracking stock linked to a portion of EMC’s economic interest in VMware. In addition, EMC shareholders are presumed to collect approximately 0.111 shares of new tracking stock for each EMC share. Both companies have indicated that the value of the tracking stock can potentially vary from the market price of VMware due to the different characteristics and rights of the two stocks. EMC’s Board of Directors has already approved of the merger agreement and anticipates that stockholders will do the same.

Dell to Buy EMC in Deal Worth $67 Billion

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Pretty amazing that they actually pulled it together. Now, where do all the pieces fit, what gets cut and how the rest of the market react? En route to NetApp Insight right now. I'm sure NetApp will be a bit perturbed at the timing. Dell World incidentally is next week, we'll be there too.

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