Deals
Dell to Buy EMC in Deal Worth About $67 Billion
- Computer maker to add almost $50 billion to debt load
- Michael Dell to lead company and help fund the transaction
Dell to Buy EMC for $67 Billion in Record Tech Deal
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Dell Inc. agreed to buy EMC Corp. for about $67 billion in the largest technology acquisition ever as Michael Dell looks to leverage EMC’s dominance in storage devices amid intensifying competition.
The computer maker plans to pay $24.05 a share in cash plus tracking stock in EMC’s prize holding, software maker VMware Inc., valued at about $9 for each EMC share. EMC’s stock climbed 1.8 percent Monday to $28.35. Dell will add almost $50 billion to its debt load to complete the purchase, people familiar with the matter said, on top of the $11 billion it already is carrying.