Dell, EMC Said to Discuss Combination, Wall Street Journal Saysby
Dell Inc. is in talks with EMC Corp. about a combination, the Wall Street Journal reported, citing unidentified people familiar with the matter.
The newspaper said it wasn’t clear whether the two companies are discussing a full or partial takeover of EMC, and that a deal may not be reached.
EMC has been looking at strategic options for boosting its share price under pressure from activist investor Elliott Management Corp. EMC needs to both pacify Elliott and find a successor for CEO Joe Tucci, who was supposed to step down back in February. The company, which has acknowleged it needs to take steps to boost shareholder value, last year held talks about a merger with Hewlett-Packard Co., people familiar with the matter said at the time.
A standstill agreement between EMC and Elliott ended in September.