Dell Acquires data storage company EMC Corporation for $67 billion

Computer technology giant Dell and private-equity firm Silver Lake on Monday acquired data storage provider EMC for roughly $67 billion, a $33.15-per-share deal that represents the largest in technology industry history.

According to the press release, the deal looks like this:

Under the terms of the agreement, EMC shareholders will receive $24.05 per share in cash in addition to tracking stock linked to a portion of EMC’s economic interest in the VMware business.

The deal’s $33.15 per-share cost represents a 28% premium above EMC’s closing price on Oct. 7, when the news reports of the pending transaction first surfaced.

CompuDell is offering EMC shareholders about $24.05 a share in cash and $9.10 of a tracking stock tied to EMC’s stake in VMware, which will remain a publicly traded company under the transaction terms.

Adapted from usatoday

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