Posted By Rich Miller On August 26, 2010 @ 10:24 am In Dell,Storage | 1 Comment
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.
Article printed from Data Center Knowledge: http://www.datacenterknowledge.com
URL to article: http://www.datacenterknowledge.com/archives/2010/08/26/dell-counters-hp-with-1-6b-bid-for-3par/
URLs in this post:
 press release: http://content.dell.com/us/en/corp/d/secure/2010-08-26-3par-release.aspx
 Analysis: Dell-3PAR Storage Acquisition: http://www.datacenterknowledge.com/archives/2010/08/16/analysis-dell-3par-storage-acquisition/
 It’s HP vs. Dell in Bidding War for 3PAR: http://www.datacenterknowledge.com/archives/2010/08/23/its-hp-vs-dell-in-bidding-war-for-3par/
 Mega-Roundup: The Battle for 3PAR: http://www.datacenterknowledge.com/archives/2010/08/24/mega-roundup-the-battle-for-3par/
 Rich Miller: http://www.datacenterknowledge.com/archives/author/richm/
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