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EMC Corp (EMC.N)

EMC.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

EMC says shareholders approve merger with Dell
Tuesday, 19 Jul 2016 10:15am EDT 

Emc Corp : EMC shareholders vote strongly in favor of merger with Dell . Approximately 98% of voting EMC shareholders cast their votes in favor of merger . EMC shareholders today approved merger agreement with Dell .Transaction is expected to close on original terms and within originally announced timeframe.  Full Article

EMC Q2 non-gaap earnings per weighted average diluted share $0.45
Monday, 18 Jul 2016 04:33pm EDT 

EMC Corp : Q2 revenue $6.0 billion . Expect Dell transaction to happen under original terms and within originally announced timeframe . EMC Corp says GAAP earnings per weighted average diluted share was $0.29 in Q2 . Says non-gaap earnings per weighted average diluted share in Q2 was $0.45 .Q2 earnings per share view $0.41, revenue view $5.99 billion -- Thomson Reuters I/B/E/S.  Full Article

Glass Lewis recommends EMC shareholders vote "for" proposed merger with Dell
Wednesday, 6 Jul 2016 09:19am EDT 

: Glass Lewis recommends EMC shareholders vote "for" proposed merger with Dell .EMC special meeting of shareholders to be held on July 19, 2016.  Full Article

Denali announces offering of $3.25 bln of senior notes
Monday, 6 Jun 2016 07:42am EDT 

Denali Holding : Offering will finance in part acquisition of EMC Corporation . Private offering of $3.25 billion aggregate principal amount of senior notes to be issued by two subsidiaries as co-issuers .Denali Holding Inc announces offering of $3.25 billion of senior notes.  Full Article

EMC says change of Chief Financial Officer
Tuesday, 26 Jan 2016 04:20pm EST 

EMC Corp:Says CFO Zane Rowe will move to VMware, Inc. to become VMware's Chief Financial Officer effective March 1.Says 28-year EMC financial executive Denis Cashman has been named EMC Chief Financial Officer.  Full Article

EMC Corp says management approved a restructuring plan
Thursday, 31 Dec 2015 04:22pm EST 

EMC Corp:On December 30, 2015, EMC Corporation management approved a restructuring plan.Says total charge resulting from this plan is expected to be approximately $250 million.Plan consists of a reduction in force which will be substantially completed by the end of the first quarter of 2016.Says total cash payments associated with the plan expected to be $220 million.Says plan will be fully completed by the end of 2016.  Full Article

EMC Corp declares quarterly cash dividend
Friday, 18 Dec 2015 08:30am EST 

EMC Corp:Declared a quarterly cash dividend of $0.115 per common share.Dividend will be payable on January 22, 2016 to shareholders of record as of January 4, 2016.  Full Article

EMC Corp and VMware Inc Reveal New Cloud Services Business
Tuesday, 20 Oct 2015 04:05pm EDT 

EMC Corp and VMware Inc:Plans to form the Federation's new cloud services business by combining their respective cloud capabilities, along with existing Virtustream cloud offerings, under the Virtustream brand.Virtustream will be jointly owned by VMware and EMC and led by Rodney Rogers, CEO of Virtustream.The parties are finalizing a definitive agreement for the transaction.Virtustream's financial results will be consolidated into VMware's financial statements beginning in Q1 2016.  Full Article

Dell Inc to acquire EMC Corp for total transaction valued at about $67 billion
Monday, 12 Oct 2015 07:17am EDT 

EMC Corp and Dell Inc:Says Have signed a definitive agreement under which Dell, together with its owners, Michael S. Dell, founder, chairman and chief executive officer of Dell, MSD Partners and Silver Lake will acquire EMC Corporation.Under terms of agreement, EMC shareholders will receive $24.05 per share in cash in addition to tracking stock linked to a portion of EMC's economic interest in the VMware business.Says based on estimated number of EMC shares outstanding at the close of the transaction, EMC shareholders are expected to receive about 0.111 shares of new tracking stock for each EMC share.Says EMC shareholders would receive a total combined consideration of $33.15 per EMC share and the total transaction would be valued at about $67 billion.Transaction is expected to be financed through a combination of new common equity from Michael S. Dell, MSD Partners, Silver Lake and Temasek, the issuance of tracking stock, as well as new debt financing and cash on hand.Says Michael S. Dell and related stockholders will own about 70 percent of company's common equity, excluding the tracking stock, similar to their pre-transaction ownership.Following completion of the transaction, Michael S. Dell will lead combined company as chairman and chief executive officer.Says transaction is expected to close in second or third quarter of Dell's fiscal year ending Feb. 3, 2017.  Full Article

EMC Corp gives Q3 2015 guidance
Monday, 12 Oct 2015 07:10am EDT 

EMC Corp:Sees Q3 2015 consolidated revenue to be between $6.05 billion and $6.08 billion.Sees Q3 2015 GAAP earnings per weighted average diluted share to be about $0.25.Sees Q3 2015 non-GAAP earnings per weighted average diluted share to be about $0.43.  Full Article

BRIEF-EMC says shareholders approve merger with Dell

* EMC shareholders vote strongly in favor of merger with Dell