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Dell acquires EMC Corp for about $67 billion

In this April 29, 2015 file photo, a Dell laptop computer running Windows 10 is on display at the Microsoft Build conference in San Francisco.
In this April 29, 2015 file photo, a Dell laptop computer running Windows 10 is on display at the Microsoft Build conference in San Francisco. AP Photo/Jeff Chiu, File

NEW YORK – Dell acquires data storage company EMC Corp. for about US$67 billion.

Shareholders of EMC Corp. will receive about $33.15 per share, which includes cash plus tracking stock linked to part of EMC’s economic interest in the VMware business, according to a statement on the company’s website.

VMware will stay an independent, publicly traded company.

Michael Dell will serve as chairman and CEO of the combined business.

Dell Inc.’s headquarters will stay in Round Rock, Texas. The combined enterprise systems business headquarters will be in Hopkinton, Massachusetts, where EMC is based.

The deal is targeted to close in the second or third quarter of Dell’s fiscal year ending Feb. 3, 2017. It still needs approval from EMC shareholders

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