News Breaks
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| 16:10 EDT |  | EMC |
| theflyonthewall.com: | EMC Corp to reorganize international operations, will take Q4 charge of $100M | | On November 18, EMC's Board of Directors approved a plan to reorganize its international operations by transferring certain assets of its RSA and Data Domain entities and legacy foreign corporations owned directly by EMC into a single EMC international holding company. The international subsidiaries acquired in connection with its acquisitions of RSA and Data Domain will be combined into EMC's existing foreign companies. In connection with the reorganization, EMC's international holding company will issue to EMC approximately $4B of consideration consisting of stock and cash. This plan is part of EMC's ongoing cost transformation program and is intended to facilitate EMC's international expansion, reduce costs, improve the efficiency and effectiveness of the company's organizational structure, further strengthen the company's operations and position the company for improved business agility in the future. EMC expects the new structure of its international subsidiaries to be completed in 2010. In connection with the reorganization, EMC will incur a charge of approximately $100M in Q4. :theflyonthewall.com |
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