Thursday, August 26, 2010
Bidding War Escalates, As HP Ups 3PAR Offer To $1.8 Billion
The battle between Round Rock-based Dell and Silicon Valley's HP over data storage provider 3PAR has further escalated, as HP said late Thursday that it has raised its offer to $27.00 per share in cash, or $1.8 billion, for 3PAR. The move comes hours after Dell said it had upped its bid to $24.30 per share in cash, or approximately $1.6 billion, for 3PAR. Dell originally reached an agreement to buy 3PAR for $18.00 per share, but was countered by HP on Monday.