Dell Counters HP with $1.6B Bid for 3PAR

Dell has raised its acquisition offer for storage vendor 3PAR to $24.30 a share, slightly higher than the $24 a share bid from HP, and said that 3PAR had accepted its bid. Of course, 3PAR’s board previously accepted an $18 a share offer from Dell, so the focus now shifts back to whether HP will up the ante with another bid.

In a press release, Dell said that its initial offer for 3PAR included “a provision for matching competing bids.” The improved offer values 3PAR at $1.6 billion. “With the 3PAR acquisition, Dell will have the broadest set of differentiated storage solutions in the market today,” said Dave Johnson, senior vice president, Dell corporate strategy.

Is a higher bid coming? Investors certainly seem to think so. Shares of 3PAR (PAR) are trading this morning at $26.37, more than $2 a share above Dell’s latest offer.  

For background and analysis of the 3PAR takeover fight, see Analysis: Dell-3PAR Storage Acquisition, It’s HP vs. Dell in Bidding War for 3PAR and Mega-Roundup: The Battle for 3PAR.

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About Rich Miller

Rich Miller is the founder and editor-in-chief of Data Center Knowledge, and has been reporting on the data center sector since 2000. He has tracked the growing impact of high-density computing on the power and cooling of data centers, and the resulting push for improved energy efficiency in these facilities.