Pivotal Software (PVTL) Stock Surges On VMW Takeover Talks

Pivotal Software PVTL Stock News

Pivotal Software Inc (NYSE: PVTL) is rocketing in the market this morning, trading on gains of more than 60% early on after VMware, Inc. (NYSE: VMW) confirmed chatter that it is looking to takeover the company. Here’s what’s going on:

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PVTL Rockets On VMW Takeover Talks Confirmation

As mentioned above, Pivotal Software is making a run for the top in the market this morning after VMware disclosed that it is in talks to acquire the company. According to the confirmation, VMW is willing to pay $15 per share to acquire PVTL.

The disclosure came via an SEC filing. In the filing, Dell Technologies said that special committees of the boards of VMW and PVTL are proceeding to negotiate definitive agreements. The disclosure went on to explain that these agreements are “with respect to a transaction to acquire all of the outstanding shares of Class A common stock of Pivotal for cash at a per share price equal to $15.”

Michael Dell and Dell Technologies are alredy big investors in PVTL. In fact, between the two, they hold 131,306,110 Class B shares of the company according to the filing.

The Fat Lady Has Not Yet Sung

They say it ain’t over till the fat lady sings. Well, it’s important to keep in mind that the figurative fat lady has not yet sung. While it looks like a clear bet that the acquisition is going to take place, no definitive agreements have been signed to date. Keep this in mind if you’re considering making a move on this news.

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