This morning, we saw Dell's announcement that 3PAR had accepted its increased offer to acquire the storage company for $24.30 per share in cash, or approximately $1.6 billion, net of 3PAR's cash. Now HP just upped the ante, offering $1.8 billion for 3PAR, or $27 per share in cash.
Clearly these companies want 3PAR. Bad. Dell had previously signed an agreement to acquire 3PAR for $18 per share, with a provision for matching competing bids. HP subsequently outbid Dell for the data storage company, offering $24 per share in cash, or also roughly $1.6 billion at the time. But Dell and 3PAR signed an amendment to the agreement reflecting the new offer price, which brought its bid up to par with HP's offer.
No comments:
Post a Comment