HP shoots for 3Par with latest "superior" offer

The latest offer by Hewlett-Packard Co HPQ to buy 3Par PAR for $30 a share, or nearly $2 billion, has been called a "superior proposal" compared to Dell's DELL $27 a share offer by the 3Par board of directors. Dell has three business days to make a higher counteroffer, though 3Par has already notified Dell that it will terminate its contract with them, and sign with Hewlett-Packard barring a superior offer. 3Par, a data storage company located in California, is known for their cloud computing services. Cloud computing looks to be a cost-saving measure going forward for businesses, as it will allow them to store data off-site and reduce the in-house IT staff. Both Dell and Hewlett-Packard are interested in getting into the cloud-computing market, and buying 3Par would put them at an advantage going forward.