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HP and Dell raise the stakes in bidding war for 3Par
Published in Saudi Press Agency on 27 - 08 - 2010


Hewlett-Packard tabled a new 2 billion
dollar bid for electronic storage company 3Par on Friday.
The 30-dollar-per-share bid came just hours after Dell had
offerred 27 dollars a share for the company, which specializes in
cloud computing servers that are becoming increasingly crucial for
corporate data centers, according to dpa.
Dell's latest bid had been accepted by the 3Par board, and had
been expected to terminate a bidding war that erupted with HP this
week. Dell's deal with 3Par also gave Dell the option to match any
subsequent bids from other companies and provided for a 72-million-
dollar break-up fee should 3Par decide to sell itself to another
firm. Dell initially bid 18 dollars per share for 3Par on August 16.
Both Dell and HP view 3Par as a strategic asset that can help them
win corporate customers who increasingly need to store and deliver
vast amounts of information over the internet. 3Par has a virtual
monopoly at the top of the high-end storage market, and though it has
consistently lost money since going public in 2007, stronger sales
teams and integration into a wider product range could transform it
into a big money maker.
Analysts believe that HP has an edge in the bidding wars, with
annual revenues of some 115 billion dollars, compared to Dell's 53
billion dollars, allowing it to pay a higher price than its rival.


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