Rumours in US of another mega deal
Giant tech acquisition on cards as Dell eyes EMC
Shares in EMC Corporation rose 6% in after-hours trading on rumours that it is in talks with computer maker Dell.
Dell is said to be discussing a partial or full takeover of the data storage company in what would be one of the largest mergers in the tech sector.
EMC has market capitalisation of $50 billion and has been exploring options since last year.
Dell was taken private in a leveraged buyout in 2013.
Michael Dell (pictured), who created the company in 1984, has been trying to transform the company into a complete provider of enterprise computing services like HP or IBM.
“We have been able to grow even though the (PC) market is shrinking and of course our business goes well beyond the device into data centre, software, services and security,” he said earlier this week.
The tie-up with EMC, if it goes ahead, comes at a time when brewer Anheuser Busch InBev is attempting a $65 billion takeover of SAB Miller in what is turning into one of the most active years for mega deals.
SAB Miller’s board unanimously rejected the offer as undervaluing the company.