PALO ALTO, Calif. -- VMware, Inc.
(NYSE: EMC) announced today that the exchange offer by VMware and EMC
Corporation has been extended and will now expire at 11:00 a.m., Pacific Time,
on August 9, 2007, unless further extended. Any such extension will be
followed by a public announcement no later than the next business day after
the offer was scheduled to expire. The offer had been previously scheduled to
expire at 11:00 a.m., Pacific Time, on August 6, 2007.
The offer is being made to certain employees of VMware and its
subsidiaries in the United States to exchange all of their outstanding stock
options to purchase EMC common stock for options to purchase VMware Class A
common stock, and to exchange all of their restricted EMC stock for restricted
VMware Class A common stock.
The depositary for the exchange offer has advised VMware and EMC that,
through 11:59 p.m., Eastern Time, on August 1, 2007, a total of approximately
7,940,000 shares of EMC stock underlying EMC options and approximately
2,340,000 shares of restricted EMC stock were validly tendered and not
withdrawn, representing approximately 64.5% of the outstanding shares of EMC
stock underlying EMC options and approximately 40.2% of the outstanding shares
of restricted EMC stock eligible to be tendered.