RSA & EMC Acquisition?
What value does tokens add to EMC's suite. Sun should pick up RSA not EMC.
Am I missing something? What am I missing
June 29, 2006, 12:50 pm
RSA Security (RSAS) Shares Soar On Report Company Will Be Bought
Posted by Eric Savitz
RSA Security (RSAS) shares are soaring today on a New York Times report that says a sale of the company is “near,” possibly to EMC (EMC).
Here’s an excerpt from the Times’ story:
RSA Security, a pioneering digital security company, quietly put itself up for sale several months ago and is now near a deal with EMC or at least one other bidder, people involved in the auction process said last night.
A deal, possibly worth more than $1.8 billion, could be reached in a few days, these people said. The company has a market value of $1.46 billion.
RSA’s board is expected to meet before the weekend to review final bids, these people said. They cautioned, however, that it remained possible that RSA could still decide against a sale.
It could not be learned last night who was competing against EMC, the data storage giant.
In response to the story, RSA this morning has issued a statement confirming that it is in talks about a “potential stratgic transaction”:
While it is our policy not to comment on rumors, this statement is made in response to a report appearing in today’s New York Times concerning the potential sale of the company. RSA Security is currently engaged in negotiations with parties regarding a potential strategic transaction. No definitive agreement has been reached. There can be no assurance that any agreement will be reached or that a transaction will be consummated. We do not plan to make future announcements with respect to this process unless and until our Board has approved a specific transaction and we have entered into a definitive agreement.
RSA shares, which were halted for the company’s announcement, are up $3.63 at $22.99. EMC, the fourth most active stock on the NYSE today, is off 21 cents at $11.04.