3Par: HP and Dell Go Head-To-Head In Bidding War

Hewlett-Packard have launched a $1.6 billion bid for data-storage company 3Par. The deal is thought to be a third higher than what Dell offered last week.

Updates are still on a constant update basis, but from what we can tell both 3Par and Dell have seen an increase in shares since the deal had been announced. HP on the other hand have seen a 2.4% decrease to $38.91 with Dell‘s stock rising 0.66.

3Par‘s shares have sky-rocketed 40%, and now sit at $25.29. HP are offering $24 per share and Dell offering $18 per share for 3Par.

It is not known whether Dell will table another bid for the data-storage company, but we are told to expect another offer of some sort. Whether it be Dell remains to be seen.

More in depth analysis can be found via the Wall Street Journal, who are keeping a close eye on the situation.

Source: Wall Street Journal