EMC Said to Be Targeted for Breakup by Activist Elliott

Elliott Management Corp. has amassed an active stake of more than $1 billion in EMC Corp. and is pushing the world’s biggest maker of storage computers to spin off its VMware Inc. unit, a person familiar with the matter said.

Elliott wants EMC to separate from its publicly traded software company VMware and pursue strategic buyers for the remainder, said the person, who asked not to be named because the activist campaign isn’t yet public. Elliott has held talks with potential buyers of EMC without VMware for several months, and will meet with EMC management next week, the person said.