Update: On Monday morning, Dell finalized its deal to buy Compellent for $960 million or $27.75 per share in cash. As of the end of its third quarter, closing Oct. 31, Dell had just under $13.5 billion in cash on hand.)
Another shoe dropping. Dell and Compellent acknowledged Friday that they’re in M&A talks.
The companies said they’re exclusively talking about a merger valuing Compellent at $27.25 per share in cash.
Now all we have to wait for is Hewlett-Packard to weigh in. I kid! I kid!
Speculation has been rife that Compellent was on the short-list of storage companies remaining to be bought. HP famously outbid Dell for 3Par a few months ago. EMC snatched up Isilon last month. Before snarfing up 3Par, HP bought LeftHand Networks in a move viewed as a knee-jerk reaction to Dell’s earlier buy of EqualLogic.
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