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EMC Stock Up, Dell Looks to Buy Data Storage Firm, Jim Cramer's Take

NEW YORK (TheStreet) -- EMC Corp. (EMC - Get Report) shares are gaining 3.24% to $26.80 in early morning trading on Thursday as Dell, the personal computer maker, is in advanced talks to buy the data storage company in a deal valued at about $50 billion, the Wall Street Journal reports.

Dell is looking to pay all cash for EMC and is in the process of speaking with banks, sources told Reuters.

If the deal goes through, it could be one of the biggest technology deals, Reuters noted.

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Since last year, the company has been undergoing pressure as activist investor Elliott Management Corp. said it should spin off majority-owned VMware (VMW), the Journal noted.

TheStreet's Jim Cramer, Portfolio Manager of the Action Alerts PLUS Charitable Trust Portfolio commented EMC saying: "I wish we knew more about this deal because the research this morning ranges from 'no deal' to EMC might be buying Dell to Dell might be buying EMC after a VMW spinoff. This is all too...