Why do some big mergers succeed while others fail? This seems to be a common question, and some of the research I’ve read about the Dell-EMC merger tries to connect it to the HP-Compaq merger, which apparently cost Carly Fiorina her job. I covered the HP-Compaq merger at length, and I was not a fan. I actually spoke to Compaq’s CEO and argued he should pull out to save his firm. There are some interesting backstories here that I think will provide color for the Dell-EMC merger.