NEW YORK (TheStreet) -- Shares of EMC Corp. (EMC) are decreasing by 0.49% to $26.28 on Thursday morning, as the company is looking to sell its Documentum software business as part of a plan with acquirer Dell to divest more than $6 billion in assets amid the biggest ever technology takeover, sources told Bloomberg.
Round Rock, TX-based Dell is also moving forward with selling its software assets Sonicwall and Quest. Dell would like to sell the divisions together for about $4 billion, according to the sources.
The companies are selling businesses to lower the debt burden they will assume if their $67 billion merger is completed later this year.
Dell has said it will take on about $50 billion in debt to complete the acquisition.
The company expects the deal to close between June and October, Bloomberg added.
Hopkinton, MA-based EMC acquired Documentum in 2003 for $1.7 billion. The software secures and tracks corporate documents and files, Bloomberg noted.
Separately, TheStreet Ratings Team has a "Hold" rating with a score of C+ on EMC stock.
The primary factors that have impacted the rating are mixed.
The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, expanding profit margins and solid stock price performance.
However, the team also finds weaknesses including deteriorating net income, disappointing return on equity and weak operating cash flow.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: EMC