Dell which is going to acquire EMC for $67 million in this year has completed the first step of purchase. Though the former is buying the latter, most of the industry analysts feel that the deal will look more of a merger than an acquisition.
As per our sources, at 11:59Pm of February 22nd, 2016, the expiration of the waiting period occurred, satisfying one of the clauses to close the proposed transaction.
Now, Dell and EMC merger will wait for the approval of EMC’s shareholders, regulatory clearance in certain other jurisdictions and other customary closing conditions.
If the deal goes as expected, EMC merger with Dell will create the world’s largest privately controlled, integrated technology companies. And the merged company will be a leader in the attractive high-growth areas of the $2 trillion IT market with complementary product portfolios, sales teams and R&D investment strategies.
Readers should take a note that on October 12th, 2015, Dell announced that it is going to acquire EMC. Now, the deal has completed the first step of merger/purchase under the Hart Scott Rodino Antitrust Improvements Act of 1976. So, with the FTC clearance, the deal has taken a step closer to realize vision of creating a global privately controlled technology company.
Hope, everything as expected from here!