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June 30, 2006

EMC shares fall after announcing $2.1 billion deal

EMC Corp. stock dropped 7.4 percent to $10.24 a share in trading this morning, as investors reacted negatively to the company's plans to purchase Beford, Mass.-based RSA Security Inc. for about $2.1 billion.

The Hopkinton, Mass.-based EMC said yesterday evening that it plans to pay $28 a share to acquire RSA, which specializes in Internet security technology.

EMC, a data storage company, employs several hundred Rhode Islanders in its Massachusetts' facilities.

--- Andrea L. Stape

Posted by Peter Phipps  at 10:29 AM | Permalink

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