HP Ups The Ante For 3PAR; Offers $1.8B In Cash For Data Storage Company

This morning, we saw Dell's announcement that 3PAR had accepted its increased offer to acquire the storage company for $24.30 per share in cash, or approximately $1.6 billion, net of 3PAR's cash. Now HP just upped the ante, offering $1.8 billion for 3PAR, or $27 per share in cash. Clearly these companies want 3PAR. Bad. Dell had previously signed an agreement to acquire 3PAR for $18 per share , with a provision for matching competing bids. HP subsequently outbid Dell for the data storage company, offering $24 per share in cash , or also roughly $1.6 billion at the time. But Dell and 3PAR signed an amendment to the agreement reflecting the new offer price, which brought its bid up to par with HP's offer.