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An acquisition of EMC would not come cheap. Given its 4-plus percent rise in share price on Thursday due to the buyout rumors, EMC currently has a market capitalization of more than $43.4 billion.
It also would cost at least $50 billion in cash and stock issuance, according to The Wall Street Journal.
It's a situation that is hard to "crystal ball," Male said. Oracle has recently increased its line of credit, and Oracle Chairman Larry Ellison has hinted at interest in NetApp and EMC, he said.