Diggin' technology every day

August 27, 2010

HP Now offering $2 billion

Filed under: News,Storage — Tags: — Nate @ 8:46 am

Dell apaprently is being a little bitch again and matched HP’s $27 offer for 3PAR, so HP came right back and offered $30 a share, or $2 billion, up from the $1.1 billion original offer from Dell ($18/share).

PALO ALTO, Calif., Aug 27, 2010 (BUSINESS WIRE) — HP /quotes/comstock/13*!hpq/quotes/nls/hpq (HPQ 37.66, -0.56, -1.47%) today announced that it has increased its proposal to acquire all of the outstanding shares of 3PAR Inc. /quotes/comstock/13*!par/quotes/nls/par (PAR 31.71, +5.68, +21.82%) to $30 per share in cash, or an enterprise value of $2.0 billion. The proposal represents an 11 percent premium above the most recent price offered by Dell Inc. of $27 per share. 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.

Cut your losses and run Dell. Go buy Compellent.

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