Bureau Chief, Helsinki
Ritsuko's Feed
Aug 27, 2010

HP raises 3PAR offer to $2 billion

NEW YORK (Reuters) – Hewlett-Packard Co (HPQ.N: Quote, Profile, Research) raised its offer for 3PAR Inc (PAR.N: Quote, Profile, Research) to $2 billion (1.3 billion pounds), once again topping Dell Inc’s (DELL.O: Quote, Profile, Research) bid and showing it had plenty of ammunition in a bidding war for the data storage company.

HP’s offer on Friday of $30 per share was the latest in a week-long volley of escalating bids, and came less than 3 hours after Dell announced 3PAR had accepted its bid of $27 per share, which matched HP’s previous offer.

Aug 27, 2010

Dell raises 3PAR offer to match HP bid

NEW YORK (Reuters) – Dell Inc fired back in a bidding war for data storage company 3PAR Inc, matching a $1.8 billion offer by Hewlett-Packard Co and showing it isn’t giving up yet against its bigger rival.

Dell said on Friday 3PAR had accepted its new $27-per-share bid, up 10 percent from its previous offer, in line with their agreement that allows Dell to match competing bids.

Aug 27, 2010

HP trumps Dell again as 3PAR bidding war escalates

NEW YORK (Reuters) – Hewlett-Packard Co raised its bid for data storage company 3PAR Inc to $1.8 billion, dealing a blow to Dell Inc’s $1.6 billion effort to win a rapidly escalating bidding war.

HP’s counteroffer of $27 a share came just hours after Dell raised its previous bid by a third, to $24.30. Shares of 3PAR, considered an attractive asset by both companies as they try to expand into new technologies like cloud computing, leapt 7 percent to $27.75 in after-hours trade.

Aug 26, 2010

Dell raises bid for 3PAR, trumping HP

NEW YORK (Reuters) – Dell Inc raised its bid for data storage company 3PAR Inc to $1.6 billion, a slightly higher offer than bigger rival Hewlett-Packard Co, which is expected to respond with an even stronger bid.

Dell’s latest offer comes in at $24.30 a share, only 30 cents a share above HP’s bid but well above its initial bid of $18 a share earlier this month. 3PAR said in a statement on Thursday that it accepted HP’s latest offer.

Aug 25, 2010

Dell to challenge HP with new 3PAR bid — source

NEW YORK, Aug 25 (Reuters) – Dell Inc (DELL.O: Quote, Profile, Research, Stock Buzz) is planning
a stronger bid for data storage firm 3PAR Inc (PAR.N: Quote, Profile, Research, Stock Buzz),
challenging Hewlett-Packard Co’s (HPQ.N: Quote, Profile, Research, Stock Buzz) offer of $24 per
share, a source familiar with the talks said on Wednesday.

The source said Dell’s new bid was likely to be more
“competitive” than HP’s last offer of $1.6 billion, but did not
say how much higher the new bid would be.

Aug 25, 2010

Valuation takes backseat as Dell, HP chase 3PAR

NEW YORK (Reuters) – Dell Inc and Hewlett-Packard Co are expected to raise their bids for data storage company 3PAR Inc, but technology investors and analysts warned of valuations taking a back seat to egos.

A Reuters survey of around 9 fund managers and analysts on Tuesday found most expect another bid or two, and a final price of around $29 (18.8 pounds) per share — nearly three times where they were before Dell’s (DELL.O: Quote, Profile, Research) first public offer for $18 a share.

Aug 24, 2010

Analysis: Valuation takes backseat as Dell and HP chase 3PAR

NEW YORK (Reuters) – Dell Inc and Hewlett-Packard Co are expected to raise their bids for data storage company 3PAR Inc, but technology investors and analysts warned of valuations taking a back seat to egos.

A Reuters survey of around 9 fund managers and analysts on Tuesday found most expect another bid or two, and a final price of around $29 per share — nearly three times where they were before Dell’s first public offer for $18 a share.

Aug 24, 2010

HP sparks bidding war with Dell over 3PAR

NEW YORK (Reuters) – Hewlett-Packard Co offered to pay $1.6 billion for 3PAR Inc, topping rival Dell Inc’s bid by a third in a surprise move that could spark a bidding war for the data storage company.

Shares in 3PAR soared 45 percent to above HP’s $24-a-share offer, showing investors were anticipating a higher bid.

Aug 23, 2010

HP launches $1.6 billion bid for 3PAR

NEW YORK (Reuters) – Hewlett-Packard Co offered $1.6 billion for 3PAR Inc on Monday, topping technology rival Dell Inc’s deal to buy the data storage company and potentially sparking a bidding war.

HP’s move to acquire 3PAR for about one-third more than Dell’s offer comes during a rush of mergers in the technology sector, with companies taking advantage of cash stockpiles and relatively low stock market prices.

Aug 23, 2010

HP launches bid for 3PAR, topping Dell offer

NEW YORK, Aug 23 (Reuters) – Hewlett-Packard Co (HPQ.N: Quote, Profile, Research, Stock Buzz)
offered $1.6 billion for 3PAR Inc (PAR.N: Quote, Profile, Research, Stock Buzz) on Monday, topping
technology rival Dell Inc’s (DELL.O: Quote, Profile, Research, Stock Buzz) deal to buy the data
storage company and potentially sparking a bidding war.

HP’s move to acquire 3PAR for about one-third more than
Dell’s offer comes during a rush of mergers in the technology
sector, with companies taking advantage of cash stockpiles and
relatively low stock market prices.