We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
EMC-Dell Merger Deal Worth $67 Billion to Conclude on Sep 7
Read MoreHide Full Article
EMC Corp. (EMC - Free Report) and Dell Inc. yesterday announced that the impending merger of the two entities will finally close on Sep 7, 2016.
The decision follows regulatory approval from China’s Ministry of Commerce (MOFCOM), which was the last hurdle before the closure of the deal.
The new company, named Dell Technologies, will commence operations immediately after the transaction closes. Michael Dell will take over the roles of chairman and CEO at Dell Technologies. As he puts it “This is an historic moment for both Dell and EMC. Combined, we will be exceptionally well-positioned for growth in the most strategic areas of next generation IT including digital transformation, software-defined data center, converged infrastructure, hybrid cloud, mobile and security.”
In Oct 2015, Dell had announced plans to take over EMC in a record $67 billion cash and stock deal. Per the terms of the deal, EMC shareholders will receive $24.05 per share in cash along with tracking stock related to a portion of EMC’s economic interest in VMware, Inc. . Based on EMC’s estimated outstanding shares at the close of transaction, stockholders are likely to get 0.111 shares of new tracking stock for each EMC share.
Following the merger on Sep 7, EMC will be delisted from the New York Stock Exchange, while the new tracking stock will start trading on the same day with the ticker ‘DVMT’.
This deal is a positive for EMC investors as its core data storage business has been struggling for a while due to growing competition from flash storage peers such as Nimble Storage, Inc. , SanDisk Corp, Western Digital Corp (WDC - Free Report) and others.
As a result of the buoyed investor sentiments, EMC shares were up 1.12% in yesterday’s trading session.
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
EMC-Dell Merger Deal Worth $67 Billion to Conclude on Sep 7
EMC Corp. (EMC - Free Report) and Dell Inc. yesterday announced that the impending merger of the two entities will finally close on Sep 7, 2016.
The decision follows regulatory approval from China’s Ministry of Commerce (MOFCOM), which was the last hurdle before the closure of the deal.
The new company, named Dell Technologies, will commence operations immediately after the transaction closes. Michael Dell will take over the roles of chairman and CEO at Dell Technologies. As he puts it “This is an historic moment for both Dell and EMC. Combined, we will be exceptionally well-positioned for growth in the most strategic areas of next generation IT including digital transformation, software-defined data center, converged infrastructure, hybrid cloud, mobile and security.”
In Oct 2015, Dell had announced plans to take over EMC in a record $67 billion cash and stock deal. Per the terms of the deal, EMC shareholders will receive $24.05 per share in cash along with tracking stock related to a portion of EMC’s economic interest in VMware, Inc. . Based on EMC’s estimated outstanding shares at the close of transaction, stockholders are likely to get 0.111 shares of new tracking stock for each EMC share.
Following the merger on Sep 7, EMC will be delisted from the New York Stock Exchange, while the new tracking stock will start trading on the same day with the ticker ‘DVMT’.
This deal is a positive for EMC investors as its core data storage business has been struggling for a while due to growing competition from flash storage peers such as Nimble Storage, Inc. , SanDisk Corp, Western Digital Corp (WDC - Free Report) and others.
As a result of the buoyed investor sentiments, EMC shares were up 1.12% in yesterday’s trading session.
At present, EMC is a Zacks Rank #4 (Sell) stock.
EMC CORP -MASS Price and Consensus
EMC CORP -MASS Price and Consensus | EMC CORP -MASS Quote
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>