HP Wins 3Par Bidding War Against Dell
September 3, 2010 0 Comments
Windsor Genova – AHN News News Writer
Fremont, CA, United States (AHN) – The bidding war for data storage company 3Par ended Thursday with Hewlett-Packard as the winner after rival Dell declined to match its $2.4 billion offer for the company.
The 3Par’s board announced it is accepting HP’s superior proposal with Dell expecting a $72 million breakup fee. Dave Johnson, Dell’s senior vice president for corporate strategy, said it is ending its bid for 3Par.
HP’s bid translating to $33 per share was 10 percent higher than Dell’s last bid of $32 per share. On Friday, HP offered $30 per share.
The bidding war started with Dell offering $18 per share on Aug. 16.
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