HP trumps Dell again in bidding war for 3Par

News

HP trumps Dell again in bidding war for 3Par

Cliff Saran

HP has increased its proposal to acquire all of the outstanding shares of 3Par to $27 per share in cash, valuing the storage virtualisation company at $1.8bn.

The proposal is $200m higher than Dell's latest offer, in this eBay style bidding war by the two suppliers to boost their storage divisions.

"Our revised proposal offers superior value to 3Par's shareholders, while maintaining our disciplined approach to only pursuing acquisitions that we believe will strengthen our portfolio and create long-term value for our shareholders," said Dave Donatelli, executive vice-president and general manager, enterprise servers, storage and networking, at HP. "Not only is our offer superior to Dell's proposal, HP remains uniquely positioned to execute on this combination given the number of synergies between the two companies."

3Par itself appears to be basking in its new found popularity. In a blog post on the company's site, it said, "To a lot of people, especially those who are unfamiliar with the storage industry, one of the obvious questions is "Who are these people and where did they come from?"


Email Alerts

Register now to receive ComputerWeekly.com IT-related news, guides and more, delivered to your inbox.
By submitting your personal information, you agree to receive emails regarding relevant products and special offers from TechTarget and its partners. You also agree that your personal information may be transferred and processed in the United States, and that you have read and agree to the Terms of Use and the Privacy Policy.
 

COMMENTS powered by Disqus  //  Commenting policy