HP Increases 3Par Bid To $1.8 Billion

Technology news and updates blog article

HP Increases 3Par Bid To $1.8 Billion

30th August 2010

HP has now increased its bid for 3Par to an amount of $27 per share in on other escalation of its war of bidding with Dell for the company of the high end storage. HP had previously been offering a share for an amount of $24, which is an offer that Dell topped with a bid of an amount of $24.30. The latest move which was made by HP appears to be a show of the willingness for paying a greater premium for the 3Par in order to keep it out of the hands of Dell. The observers have also been previously speculated that HP was only bidding to prevent Dell from entering the business of the high end storage at too low a price.

The bidding started with the offer of Dell for an amount of $18 per share or $1.15 billion which was raised to be $1.6 billion by HP with its bid of $24 a share. Later on Dell added 30 cents per share to the offer of HP and now HP has pushed the biddings to an amount of $27 per share of $1.8 billion. The trading in 3Par shared has closed at an amount of $9.65 per share on the day which was before the start of the bidding.