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Thursday, September 11, 2014

EMC considers selling stake in VMware - NY Post, (NYSE: VMW)

Data storage products maker EMC Corp has decided to consider selling its stake in its virtualization software unit, VMware Inc, New York Post reported, citing sources familiar with the situation. Hewlett-Packard Co is a potential buyer for VMware, a source told the paper. ( has been resisting pressure from activist investor Elliott Management Corp to spin off VMware, saying that keeping the companies together helps the company win business.Elliott has invested more than $1 billion in EMC with an aim to push it to spin off VMware, which has a market value of about $41.88 billion.EMC, which owns about 80 percent of VMware, had bought the company in 2004 for $700 million.

VMware, Inc., is the provider of virtualization infrastructure solutions utilized by organizations to help transform the way they build, deliver and consume information technology (IT) resources. Shares of VMW traded higher by 1.98% or $1.89/share to $97.38. In the past year, the shares have traded as low as $76.51 and as high as $112.89. On average, 1502150 shares of VMW exchange hands on a given day and today's volume is recorded at 1500641.