The Dell-EMC merger hits some snags
Dell is finding it tougher than it imagined to raise the funding for its $67 billion acquisition of EMC, thanks to the credit markets and the stock market tanking in recent months.
The New York Post reports that Dell needs to raise $45 billion in order to finance the acquisition of storage giant EMC, and had hoped to price the first $10 billion of debt last Wednesday. However, the group of banks working on the deal, led by JPMorgan, said they needed another 10 days to arrange the loan.
The Post, citing an unnamed source, said tightening credit markets have made the loans harder to sell than expected.
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