Elliott Management says EMC Corp. has gone square, and it's time to split off one of its key assets, VMWare. The market responded by giving EMC shares a boost, but it remains to be seen whether the hedge fund's activist play will actually result in any M&A. Elsewhere in Silicon Valley, market watchers are saying other big titans in the business could be besieged by activists, who are eager to either spin off assets, or cash from the balance sheet. VMWare shares aren't up, but EMC stock is, and big tech bidders could come through to put in a buy offer for more than $40 billion for the cloud company. ¿

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