Thursday, August 26, 2010

HP Responds To Dell, Ups Offer For 3Par To $1.8 Billion

Palo Alto-based HP said Thursday afternoon that it has upped its offer for 3PAR to $1.8 billion, or $27.00 per share in cash. The offer comes after news Thursday morning that 3PAR had accepted a revised, $24.30 per share offer for the firm from Dell. HP said that its revised proposal offers "superior value" to 3PAR's shareholders. The furious bidding war broke out Monday when HP decided to extend an offer to buy 3PAR, which had already agreed to be bought by Dell.