Pivotal Software Inc.
shares soared more than 70% higher in after-hours trading Wednesday as its corporate parents looked to acquire the struggling software company for a large premium. Pivotal, which went public as a spinoff from VMware Inc. VMW, -3.11% and EMC and is now majority owned by Dell Technologies Inc. is discussing being acquired by VMware for $15 a share, according to a filing with the Securities and Exchange Commission. VMware confirmed the filing with a news release Wednesday afternoon, acknowledging "ongoing discussions between special committees at VMware and Pivotal around a potential transaction." The transaction includes discussions with Dell -- which owns nearly 65% of Pivotal and more than 80% of VMware -- about converting its class B Pivotal shares to class A shares.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Malaysia Malaysia Latest News, Malaysia Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Pivotal Software surges 60% after VMware says it's in talks to acquire the companyThe yield on the 2-year Treasury note topped the 10-year rate, a so-called yield curve inversion that has been a precursor to past recessions.
Source: CNBC - 🏆 12. / 72 Read more »
CBS and Viacom reach merger deal, ending years of discussionsThe merger highlights a long effort to unite CBS and Viacom as the media companies seek to compete with giants like Disney.
Source: CNBC - 🏆 12. / 72 Read more »
ViacomCBS Chief Bob Bakish Tells Investors Merger Removes “A Big Uncertainty”Investors long ago factored in the expected reunion of CBS and Viacom to their valuation of the companies’ stock prices, so Wall Street’s reaction to the confirmation of the merger was understandably muted
Source: DEADLINE - 🏆 109. / 63 Read more »
European stocks set to open higher after Trump delays China tariffsEuropean stocks are set to climb on Wednesday amid a worldwide market rally after U.S. President Donald Trump on Tuesday postponed the September 1 deadline for 10% tariffs on remaining Chinese imports. Who else is gonna wake up rekt like me tomorrow morning who bought gold mining stocks on Monday? Oh great lol
Source: CNBC - 🏆 12. / 72 Read more »