Dell counters HP's bid for 3PAR

Posted on August 26, 2010

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– Dell beat HP's offer for 3PAR today by a slim $0.30 per share, or approximately $1.6 billion.

According to an article posted on Enterprise Storage Forum this morning: "Dell and 3PAR have signed an amendment to their agreement reflecting the new offer price of $24.30 per share. The amendment also includes a revised termination fee of $72 million, which is payable in the event that 3PAR receives and accepts another unsolicited acquisition proposal."

However, Dell's new offer does not necessarily signal the end of the bidding war with HP. Some analysts expect HP to counter again. In fact, the bidding could exceed $30 per share according to some observers.

According to a statement from 3PAR, the company's board of directors "continues to unanimously recommend that 3PAR stockholders accept Dell's tender offer and tender their shares in the offer."

Read the full story at Enterprise Storage Forum: "Dell Ups the Ante in 3PAR Bidding War."

Originally published on .

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