BOOM: Dell to Acquire EMC for $67 Billion
UPDATE: OCTOBER 12th. A competitor of Dell and EMC, Meg Whitman, CEO of HP who will become CEO of the new HPE, hit back on the deal saying in a letter to employees, “To pay back the interest on the $50 billion of debt that the new combined company will have on their balance sheet, Dell will need to pay roughly $2.5 billion a year in interest alone. That’s $2.5 billion that they will allocate away from R&D and other business critical activities, which will keep them from better serving their customers.”
The biggest pure technology company merger of all-time is occurring as Dell Inc. has formally agreed to acquire network storage giant EMC Corporation for approximately US$ 67 billion. Under the deal terms, EMC shareholders would sell at approximately US$ 33.15 per share. Diving deeper, this would include US$ 24.05 per share in cash and US$ 9.10 worth of a tracking stock for VMWare, a cloud and virtualization software. VMWare will remain an independent, publicly-traded company regardless of the deal.
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