Pivotal surges 60% after VMware says it’s in talks to acquire the company

President of the New York Stock Exchange Thomas Farley and executives from Pivotal Software ring the opening bell at the New York Stock Exchange April 20, 2018.Brendan McDermid | ReutersPivotal shares rose more than 62% in extended trading on Wednesday after VMware said it’s proceeding with an agreement to acquire all outstanding shares of Pivotal’s class A stock at $15 per share in cash, an 80% premium on Pivotal’s $8.30 closing price.VMware also said it has requested that Dell exchange all outstanding shares of Pivotal’s class B stock, other than class B Pivotal shares owned by VMware, for Class A VMware stock.This is breaking news. Please check back for updates.

Source: CNBC

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