HP ups ante in 3Par bidding war


HP ups ante in 3Par bidding war

Alex Scroxton

Hewlett-Packard has upped its bid for 3Par, trumping Dell's earlier offer which was accepted by the storage vendor yesterday afternoon.

HP last night tabled $27 per share in a new offer that values 3Par at $1.8bn (£1.16bn), topping Dell's $1.6bn bid.

In a statement, HP's executive vice president and general manager of ESSN got down to some tubthumping.

"Our revised proposal offers superior value to 3Par's shareholders, while maintaining our disciplined approach to only pursuing acquisitions that we believe will strengthen our portfolio and create long-term value for our shareholders.

"Not only is our offer superior to Dell's proposal, HP remains uniquely positioned to execute on this combination given the number of synergies between the two companies," he said.

The scuffle centres around 3Par's enterprise storage array technology, which both Dell and HP believe will boost their cloud offerings.

Neither 3Par nor Dell have yet commented on HP's new offer, although the storage maker is known to favour Dell and has agreed a hefty termination clause with Round Rock.

A poll of analysts carried out by Reuters has suggested that the bidding could go to $29 per share.

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