VMWare is 86% owned by EMC. Its shares traded as high as $125 per share, which nearly brought its market cap to parity with EMC.
When VMWare was trading in the 100's, EMC continually stated that they would not seek to completely spin off the company or sell anymore of their stake.
Today, with VMWare opening at $32 per share after delivering a disappointing outlook, EMC has "hinted" that they are open to spinning off VMW.
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