Wide Merger Arb Spread Has EMC (EMC) Investors Frustrated

Argus Downgrades EMC (EMC) to Hold Amid Takeover

Argus downgraded EMC (NYSE: EMC) from Buy to Hold after the company agreed to be acquired by Dell for $33.15 per share, including $24.05 in cash and 0.111 share of a tracking stock linked to EMCs economic interest in VMware.

For an analyst ratings... More

Cowen Cuts Price Target on VMware (VMW) Following Dell's Announced Acquisition of EMC

Cowen 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

EMC (EMC) PT Bumped to $31 at Mizuho Securities Following Dell Deal

Mizuho Securities analyst Abhey Lamba bumped the firm's price target on EMC (NYSE: EMC) to $31.00 (from $27.00) but maintained a Neutral rating following the Dell takeover deal.

Lamba commented, "We are adjusting our PT to $31 based on the transaction details and reiterating our... More

OpCo Thinks That Everybody but Citrix Benefits from the Dell/EMC Deal

Oppenheimer analyst, Ittai Kidron, thinks the Dell/EMC deal could have a far reaching impact on the storage and networking industries, affecting both large and small players. His thesis revolves around the following 4 points:

When it comes to storage, Cisco (NASDAQ: CSCO), a serial acquirer has pursued a partnership strategy but that may change. Cisco now needs to... More

S&P Affirms Corp. Credit Rating on Dell Amid Move to Acquire EMC (EMC)

Standard & Poor's Ratings Services today said it affirmed its 'BB+' corporate credit rating on Dell Inc. The outlook is stable.

At the same time, we placed our 'BBB' rating on the senior secured credit facilities of Dell International LLC, a wholly-owned subsidiary of Dell, on CreditWatch with negative implications. We also placed our 'BB+' rating on Dell's senior unsecured notes on CreditWatch with negative implications. Details of the financing terms, including the amount of total debt issuance, the amounts of secured compared to unsecured debt, and the amounts to be issued at each borrowing entity (with possible... More

EMC Corp. (EMC) Prelim. Q3 Revenue, EPS Misses Estimates

EMC Corp. (NYSE: EMC) announced preliminary third-quarter 2015 results: consolidated revenue is expected to be between $6.05 and $6.08 billion. GAAP earnings per weighted average diluted share is expected to be approximately $0.25. Non-GAAP earnings per weighted average diluted share is expected to be approximately $0.431.

*** The Street sees revenue of $6.25 billion and EPS of $0.45.

Zane Rowe, EMC... More

Dell to Acquire EMC Corp. (EMC) for $33.15/Share

(Updated - October 12, 2015 7:11 AM EDT)

Together with its owners, Michael S. Dell, founder, chairman and chief executive officer of Dell, MSD Partners and Silver Lake, the global leader in technology investing, will acquire EMC Corporation (NYSE: EMC), while maintaining VMware as a publicly-traded company.

Under the terms of the agreement, EMC shareholders will receive $24.05 per share in cash in addition to tracking stock linked to a portion of EMCs economic interest in the VMware business. Based on the estimated number of EMC shares outstanding at the close of the transaction, EMC shareholders... More