Report: Dell offering EMC nearly $30 per share in rumored takeover
The rumored merger (or takeover) between Dell and EMC is heating up just before the weekend.
The latest turn of events finds Dell giving EMC an offer it might not be able to refuse: nearly $30 per share, rounding out to a nearly $50 billion deal, according to Re/Code on Friday.
Earlier this week, news broke that Dell was reportedly planning to offer more than $27 a share for EMC in what would be a massive leveraged buyout.
The Wall Street Journal first reported that EMC and Dell were doing a merger dance.
Under the expected terms, Dell would buy EMC and keep control in VMware. A Dell-EMC future would in all likelihood focus on building private clouds and hybrid architectures.
Two years after taking itself off the public markets (consisting of a whirlwind of events as well) and reverting to a private company, Dell appears to be taking full advantage.
Yet, the Round Rock, Texas-headquartered corporation reportedly wants to make one of its subsidiaries public.
Dell is said to have filed a confidential initial public offering for its IT and network security business, Dell SecureWorks, according to the WSJ on Friday.
Many tech companies have sought to file initial IPO paperwork confidentially thanks to the Jumpstart Our Businesses ACT, a.k.a. the JOBS act.
Under the statute passed in 2012, the bottom line is a company seeking to go public can file confidentially if it is valued at less than $1 billion. Among some of the more familiar tech brands that have gone this route include enterprise cloud provider Box, Hadoop purveyor Hortonworks and even social media giant Twitter.
The WSJ report suggested SecureWorks could be valued as highly as $2 billion, but the report also stipulated a target valuation hasn't been finalized.
As for Dell and EMC, CNBC said earlier this week the deal could be finalized and announced as soon as next week.