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Dewey Advises Dell In $960M Compellent Buy

Law360 (December 13, 2010, 1:27 PM EST) -- Dell Inc. on Monday announced plans to buy data storage developer Compellent Technologies Inc. for $960 million, just three months after losing out to Hewlett-Packard Co. in a bidding war for a rival virtual data storage company.

Under the terms of the definitive agreement, Dell will pay $27.75 in cash per share of Compellent stock. The deal is worth about $960 million, though Dell will only shell out a net of about $820 million based on the data storage company's cash reserves.

The boards of both...
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