EMC Corp. (EMC) And Dell Inch Closer To Merging

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Both Dell Inc. and EMC Corp. announced this week that the merger of the two companies finally has a closing date. It’s set for September 7th, 2016.

It was in 2015 when Dell announced plans to take over EMC in a record $67 billion cash and stock deal.

The last hurdle, which was approval from China’s Ministry of Commerce (MOFCOM), was just met and helped sparked the decision for a closing date.

The new company will be named Dell Technologies and will begin operations immediately after the transaction closes.

On September 7th, EMC will be delisted from the New York Stock Exchange, and the new tracking stock will start trading on the same day with the ticker ‘DVMT’.

Michael Dell commented, “This is an historic moment for both Dell and EMC. Combined, we will be exceptionally well-positioned for growth in the most strategic areas of next generation IT including digital transformation, software-defined data center, converged infrastructure, hybrid cloud, mobile and security.”

Dell will act as both chairman and CEO at Dell Technologies.

Disclaimer: We have no position in EMC Corporation (NYSE: EMC) and have not been compensated for this article.