Twice already 3PAR has said no to Hewlett-Packard (s HWP) but the Palo Alto-based computer giant doesn’t take a hint. The company is offering $30 a share in cash for 3PAR, shortly after Dell raised its bid to $27 a share. At $30-a-share, 3PAR is now valued at $2 billion. HP’s board has approved the transaction.
Just to bring you up speed — first Dell offered $1.15 billion for 3PAR. HP came in with a $1.6 billion offer. Dell offered slightly better terms. And now HP is offering $2 billion. As we wrote earlier, buying 3PAR makes more sense for HP than for Dell, even if it means overpaying for it. It wouldn’t surprise us to see Dell make another move and up the ante.
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