Compellent Dives On Dell News (CML, DELL)

Shares of Compellent Technologies CML are down today over 15% lower than yesterday's close on news of a likely merger negotiation with Dell DELL. Dell and Compellent Technologies today announced they are engaged in advanced discussions regarding a possible business combination involving the two companies. The two will be negotiating a merger in which Dell would acquire all of the outstanding common stock of Compellent at a price of $27.50 per share in cash. There can be no assurances that an agreement will be reached or that a transaction will be consummated. Dell and Compellent do not intend to comment further until an agreement is reached or discussions are terminated. Shares closed yesterday at $33.65 and are currently trading at $28.34 in pre-market hours.