HP disrupts Dell with counter-offer for 3Par
3Par, which Dell had a US$1.15 billion agreement to buy, has received a counter-offer from HP.
On Monday, hardware and software giant HP, the world's largest PC vendor, announced its offer to 3Par to acquire it for approximately US$1.6 billion in cash, or US$24 a share. On 16 August, Dell, the world's third-largest PC vendor, had signed an agreement to acquire 3Par for US$1.15 billion, or US$18 per share. HP's offer places a 33-percent premium on Dell's offer.
3Par sells storage kit based around virtualization and cloud computing, with key product lines comprising its InServ servers and the InForm operating system. Dell had plans for 3Par; it singled out the plan to acquire the company in its earnings report, issued on Thursday, as a symbol of its commitment to enterprise-scale solutions.
Read more of "HP disrupts Dell with a counter-offer for 3Par" at ZDNet UK.