HP Raises 3PAR Bid to $33 per Share

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Hewlett-Packard has raised its offer for virtualized storage vendor 3PAR to US$33 per share, or roughly $2.4 billion, from its previous bid of $30 per share, 3PAR said Thursday. The move tops Dell's latest offer of $32 per share, according to 3PAR.

While HP's bid constitutes a "superior offer" under 3PAR's merger agreement with Dell, that agreement remains in effect, according to 3PAR.

The initial merger agreement between Dell and 3PAR contains a clause that gives Dell three days to match other offers.

(More to follow).

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