Updated from 2:43 p.m. EDT with new stock prices
Tech stocks took a sharp downturn Monday, along with the major market indices, as investors struggled with the worsening credit crisis in the financial services sector.
Shares of BMC Software(BMC Quote) fell $1.99, or 5.9%, to $31.79 after the company said it will acquire data center automation software company BladeLogic(BLOG Quote) for about $800 million, or $28 a share. Shares of BladeLogic soared $3.78, or 16%, to $27.39.
Storage company EMC(EMC Quote) lost 32 cents, or 2.2%, to $14.47 after it raised its offer for its rival Iomega(IOM Quote). EMC offered to pay $3.75 a share for Iomega, higher than its earlier bid of $3.25 a share on March 10. Iomega, which had previously rebuffed EMC's offer, said it is now ready to enter into talks with the company. Shares of Iomega were up 38 cents, or 11.7%, to $3.64. ...
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