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HP wins 3Par for $2.4 billion

HP wins 3Par for $2.4 billion

Hewlett-Packard on Thursday officially won storage vendor 3Par after Dell declined to match a $33 a share, or $2.4 billion, bid.

Dell’s statement on the matter ended a wild bidding war that started at $18 a share for 3Par. Dell said in a statement that it will get a $72 million breakup fee. The company added that its final offer was for $32 a share.

The 3Par bidding war reflected the animosity between two fierce rivals, Dell and HP, and the fact that there aren’t many enterprise storage players to buy.

Source: C|Net

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