Last week 3PAR, the cloud-based virtualized data storage company, and Dell, issued a joint press release saying that Dell agreed to acquire 3PAR for $1.15 billion, or $18 a share.

Now, HP has weighed in with a cash offer of $1.6 billion, or $24 a share. HP claims in addition to providing the storage company with a 33 percent premium, 3PAR will benefit strategically from accepting the offer.

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