Proactiveinvestors recommends
Additional Information
Market: NYSE
Sector: Computer Hardware
EPIC: HPQ
Latest Price: 29.46  (1.76% Ascending)
52-week High: 48.99
52-week Low: 22.20
Market Cap: 58,654.90M
1 year chart
digital-look imported chart image
1 day chart
digital-look imported chart image
HP
www.hp.com

Hewlett-Packard (HP) is a global provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses and large enterprises, including customers in the government, health and education sectors.

Full HP profile here
Pdf

Hewlett-Packard wins battle for 3PAR as Dell refuses to increase offer

2nd Sep 2010, 4:05 pm
Hewlett-Packard wins battle for 3PAR as Dell refuses to increase offer

Dell (NASDAQ:DELL) has bowed out of a takeover battle for 3PAR (NYSE:PAR), clearing the way for rival Hewlett-Packard (NYSE:HPQ) to acquire the data storage company for US$33 per share.


It was Dell, the third largest PC manufacturer who kicked off the battle for 3PAR, initially offering $18 per share on August 16th, but larger rival Hewlett-Packard, which is currently the largest player in the PC market, was quick to enter the fray, kicking of a  bidding war between the two companies which ended today when Dell confirmed it would not increase its latest offer of $32 per share.


Both HP and Dell were fighting for the data storage company to help build each of their cloud computing businesses, as companies all over the world look to store data over the Internet, forgoing the purchase of computer servers.


"We took a measured approach throughout the process and have decided to end these discussions," said Dave Johnson, senior vice president, corporate strategy at Dell.


A small consolidation prize for Dell will be a  $72 million break-up fee from 3PAR upon the termination of its merger agreement.


3PAR  is a provider of utility storage, a type of specialized data storage devices that are used in cloud computing. 

3PAR’s products allows organizations to choose the capacity and performance they need and pay only when it’s used.   The company’s products also help organizations reduce power and energy costs related to data storage.

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.