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Tuesday, October 13, 2015

EMC to pay up to $2.5 billion to Dell if it opts for rival bid, (NASDAQ: CSCO)

EMC Corp said it would pay Dell Inc up to $2.5 billion in termination fees if the data-storage company accepts a "superior proposal".The company will have to pay about $2 billion before the expiry of the 60-day 'go-shop' period, during which EMC can solicit other bids, and $2.5 billion after the expiry on Dec. 12. EMC said Dell had secured financing of up to $49.5 billion from banks to fund the roughly $67 billion deal announced on Monday.While IBM Corp, Cisco Systems Inc, Oracle Corp and Hewlett-Packard Co could be potential suitors for EMC, the chances of them challenging Dell with a rival offer are slim, people familiar with the matter told Reuters on Monday.

Cisco System, Inc. (Cisco) designs, manufactures, and sells Internet protocol (IP)-based networking products and services related to the communications and information technology (IT) industry. Shares of CSCO fell by 0.161% or $-0.045/share to $27.92. In the past year, the shares have traded as low as $22.49 and as high as $30.31. On average, 28162700 shares of CSCO exchange hands on a given day and today's volume is recorded at 5109106.