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EMC Stock Surges After Dell's $67 Billion Deal, Jim Cramer's Take

NEW YORK (TheStreet) -- EMC (EMC - Get Report) shares are rallying 3.37% to $28.80 in early morning trading on Monday after the announcement earlier today that computer maker Dell would buy the storage firm for about $67 billion.

TheStreet's Jim Cramer, Portfolio Manager of the Action Alerts PLUS Charitable Trust Portfolio commented on the deal this morning saying: "This is a sign that the value stocks have really bottomed as EMC had stagnated for years and Michael Dell has been a fantastic bottom caller."

Under the largest deal in tech history, Dell will pay $33.15 per EMC share of cash and stock and EMC-owned VMware (VMW) will remain a public company, Reuters reports.

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"The combination of Dell and EMC creates an enterprise solutions powerhouse," said Michael Dell, who will head the combined company as chief executive and chairman.

Dell's headquarters will continue to remain in Round Rock, TX, and the headquarter of the merged company will be in...