Cisco CEO Chambers Rules Out EMC Takeover Deal
Cisco (NASDAQ:CSCO) Chief Executive John Chambers on Wednesday said the networking company was not among potential suitors for data storage products maker EMC Corp (NYSE:EMC), which has said it is exploring options including a sale.
Chambers, speaking at a Wall Street Journal breakfast, said he usually avoids commenting on potential deals but would make an exception in this case.
"If Joe and I were going to do something here we would have done it a year or two ago," he said, referring to EMC CEO Joe Tucci, who is expected to retire in February.
EMC has held merger talks with rivals Dell Inc (NASDAQ:DELL) and Hewlett-Packard Co (NYSE:HPQ), the Wall Street Journal reported on Sunday.
(Reporting By Christian Plumb; Editing by Meredith Mazzilli)