EMC (NYSE: EMC) and Dell are set to continue with their planned merger after the Massachusetts-based data storage company did not receive a “superior” alternative offer during a go-shop process.
Dell agreed to acquire EMC in October for about $67 billion in cash and stock to create a combined company that will offer enterprise-focused information technology products and services.
EMC said Saturday it will continue discussions with Michael Dell and investment firms MSD Partners and Silver Lake to complete the transaction.
Dell and EMC expect the transaction to close sometime between May and October next year pending regulatory clearance and approval by EMC shareholders.
Round Rock, Texas-based Dell has said the combined company will target the hybrid cloud, digital transformation, converged infrastructure, software-based data center, mobile and security markets.
EMC’s VMware subsidiary will remain as an independent, publicly traded business after Dell wraps up the acquisition of EMC.
