If EMC terminates the Merger Agreement, we are required to pay Parent a termination fee of $2.5 billion (or, if EMC terminates for a superior proposal prior to December 12, 2015, the termination fee payable by EMC to Parent will be $2 billion). The Merger Agreement contains specified termination rights for both Parent and EMC, including that, in general, either party may terminate if the Merger is not consummated on or before December 16, 2016. Under the terms of the Merger Agreement, EMC may solicit alternative acquisition proposals from third parties until 11:59 p.m. Should the merge fail, then a termination fee would be payable. The deal is expected to close in mid- 2016.
EMC STOCK EMOLOYEE OPTIONS DELL PLUS
On the other hand, the market is signaling that the deal will not be completed with a payment of $24.05 in cash plus tracking stock.
The market is either irrational in the pricing of EMC at $23.98 that include a payment of $24.05 plus tracking stock. Subject to the terms and conditions of the Merger Agreement, at the effective time of the Merger (the "Effective Time"), each share of Company common stock, par value $0.01 per share ("Company Common Stock"), issued and outstanding immediately prior to the Effective Time (other than shares owned by Parent, Merger Sub, the Company or any of its wholly-owned subsidiaries, and other than shares with respect to which appraisal rights may be properly exercised and not withdrawn) will be cancelled and converted into the right to receive a Tracking Stock Policy Statement to be adopted by Parent's Board of Directors concurrently with the filing of the Parent Certificate (the "Tracking Stock Policy Statement").ĮMC's stock has not performed well since the merger announcement. The total value was estimated to be $33.15. VMware ( VMW) is expected to announce earnings after the market closes Tuesday.ĭell made a bid for EMC on October 12, 2015, that was $24.05 in cash plus tracking stock. EMC ( EMC) is expected to release fourth-quarter earnings before the market opens on Wednesday.
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