Bad idea. I expect IBM to drop 10% on this horrible desperate deal. $34B for a company doing $3B. IBM only has $14.5B of cash including marketable securities. It will borrow most of it, already has $47B in debt.
I don’t have the time to try to do a deep dive, but it looks like RH may have about a couple of billion in debt that would be assumed. So IBM wouldn’t have to borrow that (smiley face).