HP Ups Bid For 3Par To $2B In War With Dell

Law360, New York (August 27, 2010, 4:44 PM EDT) -- Hewlett-Packard Co. on Friday raised its bid for 3Par Inc. to $2 billion, or $30 a share, mere hours after rival bidder Dell Inc. announced it had a deal with the company for $1.8 billion.

It was HP's third hostile attempt on 3Par since Dell announced Aug. 16 that it had signed an agreement to buy the data-storage company for $1.15 billion. HP's latest offer represented an 11 percent premium above Round Rock, Texas-based Dell's most recent bid.

“Our only comment is this: Dell has an...
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