Hewlett-Packard Company (NYSE: HPQ) and Dell Inc. (NASDAQ: DELL) clashing for 3PAR Inc. (NYSE: PAR)

Hewlett-Packard Company is offering higher bid for 3PAR Inc. (NYSE: PAR)

In brief: Hewlett-Packard Company (NYSE: HPQ) and Dell Inc. (NASDAQ: DELL) battling for takeover of 3PAR Inc. (NYSE: PAR) in 2010.

Hewlett-Packard Company (NYSE: HPQ) shares fell to 38.98 points, (-2.18%), while those of Dell Inc. (NASDAQ: DELL) – to -1.30%. At the same time, 3PAR Inc. (NYSE: PAR) rose to 25.48 points, gaining +7.44 (41.24%).

Hewlett-Packard Co has decided to offer storage service provider 3PAR Inc an alternative bid of $ 1.6 billion ($ 24 per share), which became the second offer the company received during the last week. Previously, Dell Inc offered 3PAR $ 1,15 billion ($ 18 per share). It is worth noting that 3PAR shares were traded at $ 9.65 per piece before the release of offers. The HP said that they are willing to wait until the expiration of the 3PAR’s preliminary agreements with Dell, and then proceed with the transaction, set to end, in the case of approval by the Board of Directors, later this year. Both companies plan to strengthen their positions in the market of IT-services through purchase of 3PAR .

Igor Tringlers
2010-08-23 17:02, Economics.

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