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.

Money image

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.

 

Join the discussion

Conversation powered by Livefyre

Don't Miss
Hot Products
Trending on CNET

HOT ON CNET

Want affordable gadgets for your student?

Everyday finds that will make students' lives easier: chargers, cables, headphones, and even a bona fide gadget or two!