Thursday, December 9, 2010

Dell, Compellant In Merger Talks

Round Rock-based Dell and storage products maker Compellant Technologies said this morning that the two are in "advanced discussions" regarding a "possible business combination" of the two companies. According to the two, they are in an exclusive agreement to negotiate a merger, where Dell would acquire Compellant for $27.50 per share in cash. Both Dell and Compellant are publicly traded. The deal would be worth roughly $876M. The offer by Dell is below Compellant's current trading price; Compellant had closed yesterday on the market at $33.65.