The big business deal of the day concerned Dell and Perot Systems, and honestly, “big” probably doesn’t begin to cover it.  The first company bought the second for a whopping $3.9 billion.

Analysts seem to feel that Dell was within its rights to target Perot Systems; Dell’s revenue figures have been dropping, and Perot’s angle as a technology services provider should mesh pretty well with its business.

Also, this is the second Ross Perot-founded company to sell within two years, so it’s not like Dell’s gone off the established tracks and gotten snookered by the politician.

The issue is whether Dell paid too much.  $3.9 billion represents a 68 percent premium on the Friday closing price of Perot Systems, and that’s a pretty generous sort of tip under any circumstances.  Given the economy’s sluggish state, perhaps even more so.

A good number of Dell’s current/former shareholders didn’t seem to approve of the deal, anyway, considering that Dell’s shares fell 4.07 percent today and seem to be heading down in after-hours trading, too.