Dell’s $63 Bllion Buy Expected to be Approved by China
Dude, you got an #EMC. #Dell and co-investor #SilverLake Partners are expected early this week to get approval from Chinese regulators to buy EMC — ahead of an expected Friday closing on the $63 billion merger, two sources close to the situation told The Post. The consumer PC giant has said the closing could come anytime between this month and January 2017. Dell’s purchase of storage king EMC is the biggest tech merger ever. @MichaelDell personally spoke to Chinese regulators, a source said, and has succeeded in getting relatively quick approval. “There’s not a lot of overlap,” one of the sources said. The Chinese approval is the last step, with Dell already having raised about $50 billion in debt financing for the merger, getting other regulator approvals and securing the EMC shareholder vote. Dell will be paying EMC $24.05 in cash per EMC share and 0.111 share of VMware tracking stock based on the value of #VMware common shares. EMC owns 80 percent of VMware. The EMC shares should rise to about $30 when the deal closes, a trader said. EMC shares closed Monday at $28.47, down 1 cent.