Also see Talk about keeping it in the family: Dell-owned Pivotal shares rocket after Dell-owned VMware mulls gobbling it up | The Register, which adds "Stock price back up to, er, just below IPO level"
"VMware Inc (VMW.N) and Pivotal Software Inc (PVTL.N) are negotiating a deal for VMWare to acquire Pivotal, according to a regulatory filing from Dell Technologies Inc (DELL.N) on Wednesday, valuing Pivotal, a maker of software development and management tools, at about $4 billion.VMWare in talks to buy Pivotal Software; both controlled by Dell | Reuters
Pivotal shares jumped 63% to $13.60, while shares of VMWare were down about 3% at $148.25 in extended trading. Dell is the controlling stockholder for both the companies. Dell’s shares dropped 1.65% to $47.80 in after-market trading on Wednesday.
The offer price represents an 81% premium to Pivotal’s Wednesday close. Shares of Pivotal, which provides tools for software developers working with cloud services from different companies, have fallen 49% this year."
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