September 2, 2010 – Hewlett-Packard upped its bid for storage company 3Par in an attempt to pile pressure on rival Dell to back away from the two-week-long bidding battle.

HP’s latest offer is for $33 a share, or about $2.1 billion, an increase of $3 per share from its most recent bid for 3Par, according to today's news release from HP. 3Par, a Silicone Valley-based firm, specializes in highly virtualized, dynamically tiered, multi-tenant storage arrays built for public and private cloud computing.
Dell has three days to match or top any offer, or else lose the chance to purchase the company and $72 million from a break-up fee.

Dell initiated the bidding duel Aug. 16 with an offer of $18 a share, or about $1.2 billion.

Register or login for access to this item and much more

All Information Management content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access