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Aug 27 2010   1:05PM GMT

3Par picks Dell

badarrow Barbara Darrow Profile: badarrow

3Par said it has accepted Dell’s $1.8 billion dollar buyout offer.

No word from Hewlett-Packard on whether it will take no for an answer.  HP had an offer on the table for 3Par but last week 3Par accepted Dell’s $18 per share cash bid. HP then countered. Dell counter-countered. And here we are.

3Par’s board “continues to unanimously recommend that 3PAR stockholders accept Dell’s tender offer and tender their shares in such offer.”

That offer expires midnight EDT, Sept. 20, 2010.


Update: On Friday, HP upped the ante to $30 per share. The market capitalization of 3Par has thus risen from about $600 million a few weeks ago to more than $2 billion.


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