Tag Archives: emc

EMC Should Spin Off VMware, Hedge Fund Manager Urges

EMC (EMC) could be next up on the breakup wave, as hedge fund manager Elliott Management urged the data storage company in a letter Wednesday to spin off VMware. Elliott, which owns 2.2% of EMC, recommended it separate VMware (VMW) and sell other assets to improve shareholder value. EMC, the largest global provider of data storage systems, owns about 80% of VMware, the No. 1 provider of virtualization software. “Though EMC is a leader in numerous

EMC CEO Tucci Building Future; VMware Spinoff Doubted

Data storage system maker EMC (EMC) is going on the offensive as it faces competition from startups, upping research and development spending on emerging technologies, says UBS in a research report. EMC CEO Joe Tucci, who is under pressure from activist investor Elliott Management to make structural changes such as spinning off all of VMware (VMW), is playing for the long term even though he’s expected to soon retire, says UBS analyst Steven

EMC CEO Tucci To Meet With Big Shareholder Elliott

EMC (EMC) on Wednesday said it would accelerate its share buybacks amid speculation that activist investor Elliott Management will push for structural changes at the data storage system maker, including spinning off all of VMware. EMC raised its share buyback authorization for 2014 to $3 billion from $2 billion. Elliott Management reportedly has purchased more than $1 billion in EMC stock, roughly 2% of the Hopkinton, Mass.-based company. Joe