Friday, August 27, 2010

3PAR Gets Matched Offer From Dell, at $1.8 Billion

The tit-for-tat bidding war over data storage provider 3PAR continued in dramatic fashion Friday morning, as Dell said it has matched HP's offer for 3PAR, at $27.00 per share, or a total value of $1.8 billion. Dell said it is matching the offer from HP--made just last night--as part of a provision giving it an option to match competing bids for 3PAR. Dell said that it "continues to believe" that the acquisition of 3PAR is important to its customers, and will enhance its position in utility storage. The increased bid comes after HP increased its bid to $27.00 per share in cash Thursday afternoon, upping Dell's prior bid of $24.30 per share for 3PAR made only Thursday morning.