The thing we have speculated about is finally confirmed – US Dell will take over one of the world’s largest manufacturer of storage systems, EMC company. Details of this acquisition will be announced during the day.
Dell is going into this business with a financial partner, investment fund Silver Lake and by taking over EMC it will get a large corporation, as well as a wide range of their products and services in the field of data storage – primarily servers as well as cloud software.
According to the agreement, Dell will pay $ 33.15 per share – about 27% more than the price on the stock market was at the time when the first meetings about the possibility of taking over were held. The current market value of EMC is about 53.6 billion dollars, and agreed amount Dell will pay one part in cash and other part in shares. It is estimated that the total value of acquisitions will amount to about 65 billion US dollars, which will become the largest acquisition in the history of the technology sector.
According to Reuters, it is possible that EMC might request the addition of so-called “Go-shop” clause in the takeover agreement, which would allow them to terminate the contract with Dell if within a specified period in the market they found a better buyer.
More about the whole business should be known during this day.