Dell hands 3Par to HP?as walks out of bidding war

first_img whatsapp Thursday 2 September 2010 8:42 pm whatsapp KCS-content Dell hands 3Par to HP?as walks out of bidding war Show Comments ▼center_img Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proof Share Tags: NULL by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald DELL said yesterday it won’t match HP’s offer to pay $33 per share for 3Par, or about $2.07bn (£1.3bn) yesterday. Dell’s decision came barely an hour after 3Par announced it had received Dell’s revised offer of $32 per share and then the even stronger bid from HP.3Par said Dell’s revised offer contained new terms that it found unacceptable, including a multiyear reseller agreement with Dell that would remain in effect even if 3Par were to be bought by another company. The board of 3Par approved HP’s offer, which is 83 per cent above Dell’s first offer and more than three times what 3Par stock was trading at then. The deal is expected to close by the end of the year. “We took a measured approach throughout the process and have decided to end these discussions,” said Dave Johnson, Dell’s senior vice president for corporate strategy.Shares of 3Par increased 80 cents, or 2.5 per cent, to close yesterday at $32.88. Before Dell conceded, 3Par shares were trading as high as $33.84 as investors expected Dell to match or beat HP’s $33-per-share offer. last_img

Leave a Reply

Your email address will not be published. Required fields are marked *