Dell, EMC Receive FTC Clearance For Proposed Merger - Quick Facts

(RTTNews) - Dell Inc. and data-storage company EMC Corp. (EMC) said they have received clearance from the U.S. Federal Trade Commission or FTC for their proposed merger.

The companies announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, in connection with the companies' proposed combination. The expiration of the waiting period occurred at midnight on February 22, satisfying one of the conditions to the closing of the proposed transaction.

Joe Tucci, Chairman and CEO of EMC said, "We are very pleased to receive FTC clearance as this takes us a step closer to realizing our vision of creating a global privately-controlled technology company. Together, our investments in R&D, focus on innovation and world-class sales and service will enable our customers to accelerate their journey to hybrid cloud and digital transformation."

The transaction remains subject to approval by EMC's shareholders, regulatory clearance in certain other jurisdictions and other customary closing conditions. EMC shareholders' vote is expected this spring.

The two companies noted that their combination will create the world's largest privately-controlled, integrated technology company.