3Par is currently trading at $31.62 (+21.48%), its shares have more than tripled since Dell launched a $18 acquisition bid on August 16.
Hewlett-Packard Co. topped Dell Inc. in the bidding for 3Par Inc. for the third time, agreeing to pay $30 a share or $2 billion for the data-storage provider.More info at BusinessWeek.
Dell said today it would pay $27 a share for 3Par, matching Hewlett-Packard’s previous bid. Dell said in a statement that its earlier bid had been accepted by 3Par’s board. Dell started the public bidding at $18 a share on Aug. 16.
“They’re playing hardball,” Aaron Rakers, an analyst at Stifel Nicolaus & Co. said in an interview. “Both these guys have something to prove.”