This is one M&A story that won’t go away: Dell has just increased its bid to $24.30 a share or roughly $1.6 billion for storage vendor 3PAR. This trumps HP’s bid of $24 a share made on August 23rd.
Initially Dell’s offer was to acquire all of the outstanding common stock of 3PAR for $18 per share in cash valuing the first bid at $1.15 billion.
3PAR, as of August 26th, has agreed to accept Dell’s latest offer:
“3PAR and Dell have signed an amendment to their previously announced merger agreement reflecting the new offer price and a revised termination fee of $72 million, which is payable in the event that 3PAR receives and accepts another unsolicited acquisition proposal that its board determines to be superior to Dells increased offer.”
Well, of course, Hewlett-Packard hasn’t commented on this yet. They’ve been busy buying out a company in Denver that makes software to manage databases, Stratavia.
But many in the industry believe HP have the balance sheet to buy what they want. Dell would still end up with $72 million, however. There must be some other up and coming storage vendors in that price range.
The Cloud Cuts Carbon Considerably
Email
Print
Comments
There are currently no comments posted for this article.