EMC is actually a constellation of six independently run businesses that operate as one giant company called the EMC Federation. The idea is for them to cooperate — like creating a unified sales staff — to make each member stronger. But critics have described the structure as unwieldy and confusing to customers and investors. Hedge fund Elliott Management has pushed the company to break itself apart because it believes that the combination isn’t as valuable to shareholders as it would be if it were torn apart. A possible merger with Dell could be the answer EMC is looking for to...