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HP strikes back with higher bid for 3Par

Posted on Thursday, August 26 2010 @ 22:55:37 CEST by

Earlier today Dell upped its bid for data storage company 3Par to $24.30 per share, but HP just upped the ante by raising its bid to $27 per share, or about $1.69 billion. The bidding contest for 3Par started earlier this week when HP countered Dell's original bid of $18 per share with an offer of $24 per share.
H.P. raised its bid for 3Par to $27 a share in cash, or about $1.69 billion, just hours after Dell offered $24.30 a share in cash, or about $1.5 billion. H.P. said its bid represented an 11 percent premium from Dell’s earlier offer.Dell said in its statementthat 3Par’s board had accepted its offer.

In a statement, David A. Donatelli, executive vice president and general manager for enterprise servers, storage and networking for H.P., said. “Not only is our offer superior to Dell’s proposal, H.P. remains uniquely positioned to execute on this combination given the number of synergies between the two companies.”
Source: NY Times



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