Thursday, August 26, 2010

Dell Ups Bid On 3PAR

Round Rock-based Dell reported today that 3PAR has accepted the firm's upped bid of $24.30 per share for the firm, or roughly, $1.6 billion. The new bid came after HP made a competing offer of $24.00 per share for 3PAR on Monday, a significant boost from Dell's original offer of $18.00 per share for 3PAR. Dell said the cash tender offer and new price does not alter the timing of its acquisition. The acquisition of 3PAR was originally announced on August 16th, however, became a bidding war this week when HP entered the fray with its own bid for the storage firm.