FBR Sees EMC/Dell Deal Happening Around $33/Share (EMC) (VMW)
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Cowen Cuts Price Target on VMware (VMW) Following Dell's Announced Acquisition of EMC
October 12, 2015 3:56 PM EDTCowen reiterated an Outperform rating on VMware (NYSE: VMW), and cut the price target to $87.00 (from $90.00), following Dell's announced acquisition of EMC. As part of the deal, Dell will pay EMC shareholders with VMW "tracking stock", or stock that will follow the 19% of... More
Mizuho Securities Downgrades VMware (VMW) to Neutral Following Dell/EMC Deal
October 12, 2015 10:38 AM EDTMizuho Securities downgraded VMware (NYSE: VMW) from Outperform to Neutral with a price target of $75.00 (from $95.00) after Dell agreed to acquire EMC.
Analyst Abhey Lamba commented, "We are downgrading the stock to Neutral from Buy, and cutting our PT to $75 from $95. We think... More
Jefferies Downgrades EMC (EMC) to Hold; Sees Limited Upside
October 12, 2015 6:49 AM EDTJefferies downgraded EMC (NYSE: EMC) from Buy to Hold with a price target of $29.00 amid reports of a takeover by Dell. The analyst is concerned about the size of the debt raise.
Analyst James Kisner commented, "Our Dell/EMC model suggests... More
Dell to buy EMC in $67 billion record tech deal, aims for cloud market
October 11, 2015 6:49 PM EDTBy Greg Roumeliotis and Jim Finkle
(Reuters) - Computer-maker Dell Inc struck a deal on Monday to buy data storage company EMC Corp for $67 billion, setting a record in the technology industry, as it tries to transform itself into a giant in the fast-growing market for managing and storing corporate data.
The acquisition, the year's third-largest in all sectors, highlights the frenzy of dealmaking sweeping the economy, as big or mature companies take advantage of low interest rates to buy rivals as a way to spur growth.
The deal should help privately held Dell, the world's No. 3... More
Dell to use VMware to help pay for EMC deal: sources
October 9, 2015 4:42 PM EDTBy Greg Roumeliotis
(Reuters) - Dell Inc is planning to use equity in cloud software company VMware Inc (NYSE: VMW) to help pay for its acquisition of EMC Corp (NYSE: EMC) in a deal valuing the data storage company at more than $55 billion, according to people familiar with the matter.
While... More
