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Dell Reportedly in Talks to Buy EMC

Dell Reportedly in Talks to Buy EMC 43195k

By Reuters | Updated: 8 October 2015 10:10 IST

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Dell Inc is in talks to buy EMC Corp and is also talking with banks to finance an all-cash offer for the data storage company, a person familiar with the matter told Reuters on condition of anonymity because the negotiations are confidential.

The of the negotiations were not immediately known. EMC has a market capitalization of about $50 billion (roughly Rs. 3,25,147 crores) as of Wednesday's close. 4d4mp

The deal could further strengthen the world's third largest personal computer maker's presence among corporate clients at a time when IBM.

Dell spokesman David Flink declined to comment while EMC could not be reached for comment outside regular US business hours.

EMC has been struggling under pressure from activist investor and shareholder Elliott Management Corp, which wants the company to spin off its majority-owned VMware Inc unit.

In August, Re/code reported that EMC was contemplating a deal under which it would be acquired by VMware, which has a market cap of about $35 billion (roughly Rs. 2,27,603 crores).

The Wall Street Journal reported in September 2014 that EMC was exploring options and had held talks with Dell and HP.

Dell ranked third in global PC shipments in the second quarter after HP, according to research firm International Data Corp.

© Thomson Reuters 2015

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