HP wins 3Par for $2.4 billion

update Dell walks away from the storage company after a bidding war that started at $18 a share and ended up with Hewlett-Packard's winning offer of $33 a share.

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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.

Update 8:31 a.m. PDT: This is a new version of the story to reflect that HP has succeeded with its bid of $33 per share for 3Par, announced earlier Thursday morning.

Read more of "Dell walks away: HP wins 3Par for $2.4 billion" at ZDNet's Between the Lines.

About the author

    Larry Dignan is editor in chief of ZDNet and editorial director of CNET's TechRepublic. He has covered the technology and financial-services industries since 1995.

     

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