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  • Friday, April 26, 2024

FTC Approves Dell’s $67B EMC Purchase


cloudITThe Federal Trade Commission has given Dell the green light to continue its approximately $67 billion cash-and-stock acquisition of enterprise data storage company EMC (NYSE: EMC).

FTC approved the potential EMC-Dell combination after a 30-day waiting period under the Hart-Scott-Rodino Antitrust Improvements Act expired Monday, EMC said Tuesday.

“Our teams are engaged in integration planning and all transaction-related workstreams are on track, ” noted Michael Dell.

Joe Tucci,  EMC’s chairman and CEO, said the combined company will offer a portfolio of information technology products and services intended to help facilitate clients’ digital transformation and hybrid cloud implementation efforts.

The transaction is still subject to approval by EMC shareholders and other customary closing conditions.

Dell and EMC have said they expect to complete their merger sometime between May and October.

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