With giants like Cisco and Intel taking a stake out of the virtual pie, VMware seems pretty confident and goes ahead to hike up the price.
VMWare boosted the expected price of next week's initial public offering to $27 to $29 a share from the previously expected $23 to $25.TheStreet.com reporting...
The Palo Alto, Calif., unit of EMC (EMC - Cramer's Take - Stockpickr - Rating) is due to sell 33 million shares next Tuesday in one of the most highly anticipated tech IPOs in some time. VMWare is expected to raise some $600 million in the offering, which comes just weeks after the company scored investments from tech titans Cisco (CSCO - Cramer's Take - Stockpickr - Rating) and Intel (INTC - Cramer's Take - Stockpickr - Rating).
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