(Bloomberg) -- Dell Inc. agreed to buy EMC Corp. for about $67 billion in the largest technology acquisition ever, creating a corporate-computing giant that will use a wider product lineup to woo customers as demand slows and competition stiffens.
Dell plans to pay $24.05 a share in cash plus tracking stock in EMC’s prize holding, VMware Inc., valued at about $9 for each EMC share, the companies said in a statement Monday. The price of $33.15 a share is 28 percent above EMC’s closing level on Oct. 7, just before reports surfaced that a deal was in the works. While the agreement has a provision that lets EMC talk to other potential bidders, the company doesn’t expect any, a person familiar with the matter said. EMC shares rose as much as 9.5 percent to $30.51 in premarket trading Monday in New York.
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