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| Version 1 | Version 2 |
|---|---|
| Dell agrees $67bn EMC takeover | Dell agrees $67bn EMC takeover |
| (35 minutes later) | |
| US computer giant Dell has agreed a deal to buy data storage company EMC for $67bn (£44bn). | US computer giant Dell has agreed a deal to buy data storage company EMC for $67bn (£44bn). |
| EMC shareholders will receive $33.15 per share, $24.05 of which will be in cash. | EMC shareholders will receive $33.15 per share, $24.05 of which will be in cash. |
| If approved by regulators, the deal would be the biggest in history between two technology companies. | If approved by regulators, the deal would be the biggest in history between two technology companies. |
| Falling demand for PCs means Dell is looking to expand into more lucrative businesses, and it has identified data storage as a key growth area. | Falling demand for PCs means Dell is looking to expand into more lucrative businesses, and it has identified data storage as a key growth area. |
| "Our new company will be exceptionally well-positioned for growth in the most strategic areas of next-generation IT ," said Dell boss Michael Dell. | "Our new company will be exceptionally well-positioned for growth in the most strategic areas of next-generation IT ," said Dell boss Michael Dell. |
| EMC boss Joe Tucci said: "The waves of change we now see in our industry are unprecedented and, to navigate this change, we must create a new company for a new era". | EMC boss Joe Tucci said: "The waves of change we now see in our industry are unprecedented and, to navigate this change, we must create a new company for a new era". |
| Mr Dell will be chairman and chief executive of the combined group that, Dell said, would be the world's "largest privately-controlled, integrated technology company". | |
| 'Stunning coup' | |
| The exact cost of the deal will depend on the value of shares in VMware, the software company controlled by EMC. VMware will remain an independent, listed company. | The exact cost of the deal will depend on the value of shares in VMware, the software company controlled by EMC. VMware will remain an independent, listed company. |
| The price per share agreed represents a 20% premium on Friday's EMC closing share price of $27.86. EMC shares were up about 4% in pre-market trading on Monday. | |
| The deal is expected to close some time between May and October 2016. | |
| Analysts suggested the deal was a brave move by Dell. | |
| "Dell wants to become the old IBM Corp, a one-stop shop for corporate clients," said Erik Gordon from the University of Michigan's Ross School of Business. | |
| "That model fell apart a couple of decades ago. Reviving it would be a stunning coup for Dell." |