EMC Corp. has agreed to be acquired by Michael Dell and partners in a cash-and-stock deal valued at $67 billion, Michael Dell and EMC Chief Executive Joe Tucci announced on CNBC. The buyers will pay $33.15 per EMC share in the deal, which is the biggest ever acquisition in the U.S. tech space. EMC shares surged 7% in premarket trade, but are down 7% in the year through Friday, while the S&P 500 has lost 2.1%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News
