VMware and Pivotal Software are negotiating a deal for VMWare to acquire Pivotal, according to a regulatory filing from Dell Technologies on Wednesday, August 14, valuing Pivotal, a maker of software development and management tools, at about US$4 billion.
Special board committees at both companies are negotiating an agreement to acquire all of the outstanding shares of Class A stock of Pivotal for cash at US$15 a share, according to a regulatory filing.
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. VMWare provides cloud computing and virtualization software and services.
Full Content: Reuters
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