Friday, August 27, 2010

Dell Increases Bid For 3PAR To $1.8 Billion

The rapid-fire bidding war for data storage firm 3PAR continues this morning, as Round Rock-based Dell said that 3PAR has accepted a new, $27.00 per share bid to acquire the company. Dell said this morning it increased its offer to $27.00 per share in cash, and that 3PAR had accepted its increased offer as part of a provision that allows Dell to match competing bids for the firm. 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.