Dell and EMC make their mega-merger official

[Triana]

The second-largest tech merger of all time is now official.

Dell Inc. this morning formally announced that it has agreed to acquire network storage giant EMC Corp. EMC 7.62% for approximately $67 billion.

Under terms of the complex deal, EMC stockholders would approximately $33.15 per share. This includes $24.05 per share in cash and $9.10 worth of a tracking stock for VMWare VMW 1.75% , an EMC-owned cloud and virtualization software company that already has around a 20% equity “stub” trading on the public markets.

EMC also has included a so-called “go shop” provision, which would allow it to solicit superior offers. The go-shop provision lasts 60 days. The deal is expected to close in mid-2016.

EMC chairman and CEO Joe Tucci would remain in that position until the deal closes, after which Michael Dell would become chairman and CEO of the combined company. Dell’s headquarters will remain in Round Rock, Texas, while the combined company’s enterprise systems unit will be based in EMC’s current base of Hopkinton, Mass.

THE REST:

http://fortune.com/2015/10/12/dell-and-emc-merger-official/

[hughee99]

1. Many of the same people that transformed EMC

From an industry leader to an aging dinosaur will benefit the most from this, IMHO.