Dell obtains financing for EMC acquisition

[NEW YORK] Dell Inc has obtained financing for up to US$49.5 billion from banks including Credit Suisse, JP Morgan, Barclays and BofA Merrill Lynch to fund its acquisition of EMC Corp.

Dell, through a holding company called Denali Holding Inc, has also obtained up to US$4.25 billion from Michael Dell and partners, including its investment firm MSD Partners and private equity firm Silver Lake, EMC said in a filing on Tuesday.

The computer maker struck a deal on Monday to buy EMC Corp for US$67 billion, setting a record in the technology industry.

REUTERS