HP ups bid for 3PAR -- 3PAR to end deal with Dell

By IBTimes Staff Reporter | September 02 2010 11:40 AM

Hewlett-Packard Co raised its offer for data storage company 3PAR Inc by $3 to $33 per share, after rival bidder Dell Inc raised its offer to $32, instead of bowing out as many expected.

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3PAR said on Thursday that HP's offer is superior and it intends to terminate its previous merger agreement with Dell.

3PAR shares rose to $33.59 in premarket trade from their close on Wednesday at $32.08. They had had mostly traded around $10 this year, until Dell announced its $18 per share bid in August.

(Reporting by Ritsuko Ando, editing by Gerald E. McCormick)

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