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Cisco Systems Inc. finally followed through on a long-rumored target Thursday when it announced it will acquire cybersecurity company Splunk Inc. for $28 billion in cash, but it may want to close the deal soon.
The companies announced plans for Cisco to acquire Splunk for $157 a share, sending Splunk shares SPLK soaring Thursday, while shares of Cisco CSCO fell as executives assured investors the acquisition would be cash-flow positive and increase gross margins in the first fiscal year after its close.
The…
