August 23, 2010 – HP has submitted a proposal to acquire all the outstanding shares of 3PAR for $24.00 per share in cash, or an enterprise value of $1.6 billion. The proposed transaction represents a 33.3 percent premium above the price proposed by Dell Inc.

HP’s proposal is not subject to any financing contingency and has been approved by HP’s board of directors. Once approved by 3PAR’s board, HP expects the transaction to close by the end of the calendar year.

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