Willie Briscoe and Powers Taylor Investigates EMC Acquisition by Dell …
On whether board acting in shareholders' best interests
This is a Press Release edited by StorageNewsletter.com on October 14, 2015 at 2:38 pmFormer United States SEC attorney Willie Briscoe and the securities litigation firm of Powers Taylor LLP are investigating potential claims against the board of directors of EMC Corp. concerning the acquisition by Dell Inc.
Under the terms of the agreement, valued at approximately $67 billion, EMC shareholders will only receive $24.05 in cash and a tracking stock in virtual software provider VMWare Inc. per EMC share owned. The consideration is lower than at least one analyst’s estimated value of $34.00.
The investigation centers on whether EMC’s board of directors is acting in the shareholders’ best interests, whether the board considered alternatives to the acquisition, and whether the board has employed an adequate process to review and act on the proposed transaction.
Notably, at least one analyst with Yahoo! Finance believes the true inherent value of EMC could be as high as $34.00 per share.
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