Posted by
alfredlester on Monday, August 23, 2010 2:06:10 PM
PALO ALTO, Calif. (AP) — The computer company Hewlett-Packard said Monday that it was making a bid of $24 a share, or about $1.6 billion, for the data storage provider 3Par, just a week after Dell agreed to acquire the company.
H.P. and Dell both have been looking to expand from personal computers over the past few years in a search for bigger profits.
The bid by H.P. tops Dell’s offer of $18 a share, or about $1.13 billion.
“H.P.’s proposal offers superior value to 3Par’s shareholders” said David A. Donatelli, H.P.’s executive vice president and general manager for enterprise servers, storage and networking no faxing payday loans. “Our global reach, strong routes to market and commitment to innovation uniquely position H.P. as the ideal fit for 3Par.”
Shares of 3Par, based in Fremont, Calif., rose $6.66, or 37 percent, to $24.70 before the markets opened.
Dell said last week that the deal had been approved by the boards of both companies and that it was expected to close this year.
H.P. is based in Palo Alto, Calif. Dell is based in Round Rock, Tex.
H.P. Trumps Dell’s Bid for 3Par