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Dell to Buy EMC in Deal Worth About $67 Billion

Dell Inc. agreed to buy EMC Corp. for about $67 billion in the largest technology acquisition ever, creating a corporate-computing giant that will use a wider product lineup to woo customers as demand slows and competition stiffens.

Dell plans to pay $24.05 a share in cash plus tracking stock in EMC’s prize holding, VMware Inc., valued at about $9 for each EMC share, the companies said in a statement Monday. The price of $33.15 a share is 28 percent above EMC’s closing level on Oct. 7, just before reports surfaced that a deal was in the works.

The deal would combine EMC’s dominance in devices that store data with Dell’s No. 2 position in servers, the powerful machines that help companies handle big computing challenges. Dell, which was taken private for about $25 billion in 2013, can expand its product lineup to vie with perennial rivals including Hewlett-Packard Co. and upstarts such as Nutanix Inc. For EMC, the agreement addresses pressure from activist investors who have been agitating for growth...


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