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Dell raises bid for 3Par to match HP (again)

Dell raised its bid for 3Par to $27 a share, or $1.8 billion, to match and increased offer by Hewlett-Packard. It's a high-stakes game of chicken between two fierce rivals.
Written by Larry Dignan, Contributor

Dell raised its bid for 3Par to $27 a share, or $1.8 billion, to match and increased offer by Hewlett-Packard. It's a high-stakes game of chicken between two fierce rivals.

On Friday, Dell said that 3Par accepted its bid. Dell has the right to match any competing offer. HP is the barbarian at the gate that will either win 3Par or force Dell to pay much more than it wanted to.

HP upped its bid for 3Par on Thursday to $27 a share. Dell said it "continues to believe that the acquisition of 3PAR, with its industry-leading storage technology, is important to its customers and will enhance Dell’s position in utility-storage solutions."

Of course, HP is forcing Dell to pay a lot more for 3Par. The ball's in HP's court.

Investors are betting that HP will raise its bid to trump Dell again. 3Par shares are trading at $29 ahead of market open Friday. 3Par closed below $10 on Aug. 13. Dell announced plans to buy 3Par Aug. 16.

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