Cisco CEO Chambers Rules Out EMC Takeover Deal

Reuters

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.

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"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)