Dell’s planned purchase of enterprise data-storage giant EMC (EMC) for $67 billion could kick off a new round of mergers and acquisitions in the information-technology hardware sector, analysts say. The deal, announced Monday morning, would be the largest-ever pure-technology acquisition, topping chipmaker Avago Technologies’ (AVGO) pending $37 billion agreement to acquire Broadcom (BRCM). Dell and private-equity firm Silver Lake Partners agreed
Dell will offer EMC (EMC) more than $30 a share, including tracking stock in VMware (VMW), about 80% owned by EMC, according to several reports. Meanwhile, General Electric (GE) is near a deal to sell $30 billion in loans to Wells Fargo (WFC), as GE racing ahead with efforts to cut $200 billion in GE Capital assets. Finally, Twitter (TWTR) reportedly is mulling layoffs as the first big order of business for CEO Jack Dorsey. Dell To EMC: Cash, Plus
Heading into the weekend facing the prospect that it will have a new master soon, data storage giant EMC (EMC) continued its hot streak, with shares posting their eighth straight day of gains on Friday. EMC stock rose 2.5% to 27.86 in the stock market today as rumors persisted that it would be bought by privately held computer maker Dell and Wall Street began to contemplate the consequences of what would be one of the largest tech mergers ever.