Dell Buying EMC

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Dell is buying EMC in a deal worth $67 billion. The deal will create a combined company worth $80 billion.

The deal calls for EMC to be acquired by Dell and its private equity co-owner Silver Lake, and also involves MSD Capital, the private investment firm controlled by Michael Dell and Temasek, the sovereign wealth fund based in Singapore.

Michael Dell will become the CEO and chairman of the combined company.