Monday, August 23, 2010

HP Challenges Dell Acquisition of 3PAR

Palo Alto-based HP is challenging the acquisition of 3PAR by Dell, saying today that it is offering up $24.00 per share in cash to acquired 3PAR. The proposal, which places the worth of 3PAR at roughly $1.6 billion, is 33.3 percent higher than the price proposed by Dell on August 16th. HP said that its proposal "offers superior value" to 3PAR's shareholders. 3PAR is a developer of storage virtualization technology used in virtualized data centers and in cloud computing. Dell had originally offered to pay approximately $1.15 billion for 3PAR.