Shortly after Dell announced Friday morning that 3PAR accepted its increased offer to acquire the storage leader for $27 per share in cash, or approximately $1.8 billion, HP intensified the bidding war with an offer for $30 per share.
The battle over 3PAR began on August 16, when Dell first announced its intent to acquire the company, with its industry-leading storage technology, for a price of $18 per share. HP created competition for the company with an offer of $24 per share one week later.
HP stated that it is pursuing a disciplined approach to only pursuing acquisitions that will strengthen its portfolio and create long-term value for our shareholders, according to Dave Donatelli, executive vice president and general manager, Enterprise Servers, Storage and Networking, HP said yesterday.
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
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access