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HP continues ‘bidding up’ Dell’s offers to acquire 3PAR

By Tim Conneally, Betanews

Just hours after Dell announced its revised offer to acquire memory company 3PAR for .6 billion, HP announced a new counter-offer for .8 billion.

HP’s last counter-offer caused Dell to raise its bid by a little under 34%, the most recent offer raises it by another 11%.

“Our revised proposal offers superior value to 3PAR’s shareholders, while maintaining our disciplined approach to only pursuing acquisitions that we believe will strengthen our portfolio and create long-term value for our shareholders,” Dave Donatelli, executive vice president and general manager of HP’s Enterprise Servers, Storage and Networking division said this afternoon. “Not only is our offer superior to Dell’s proposal, HP remains uniquely positioned to execute on this combination given the number of synergies between the two companies.”

3PAR has not yet addressed the offer.

Copyright Betanews, Inc. 2010

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