Law360, New York (August 23, 2010, 11:18 AM ET) -- Hewlett-Packard Co. has launched a bidding war with Dell Inc. for 3Par Inc., vying to acquire the data storage provider with a $1.6 billion proposal that tops the offer its rival made earlier in August.
HP said Monday that it had offered $24 per share in cash for all the outstanding shares of Fremont, Calif.-based 3Par, which announced Aug. 16 that its board of directors had approved a $1.15 billion offer from Dell.
The offer is a 33.3 percent premium above the price proposed by Dell...
HP Sparks Bidding War With Dell In $1.6B 3Par Offer
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