HP Ups Stake For 3PAR (HPQ, DELL, PAR)

HP HPQ today announced that it has submitted to 3PAR Inc. PAR a proposal to acquire all of the outstanding shares of 3PAR for $24.00 per share in cash, or a total value of $1.6 billion. The proposal represents a 33.3% premium above the price quoted by Dell DELL last week. HP’s offer hasn’t been approved by the company’s board of directors yet. Once approved, HP expects the deal to materialize by the end of this calendar year. HPQ executives are of the view that 3PAR’s next-generation storage architecture will be closely aligned to HP’s “Converged Infrastructure strategy. In addition, 3PAR’s scalable storage systems will further boost HP’s ability to deliver superior levels of performance, efficiency and reliability to HP’s global customers. “HP’s proposal offers superior value to 3PAR’s shareholders. Our global reach, strong routes to market and commitment to innovation uniquely position HP as the ideal fit for 3PAR,” remarked Dave Donatelli, executive vice president and general manager, Enterprise Servers, Storage and Networking, HP. PAR is trading at $24.60, up 36.36% in pre-market. HPQ is trading at $39.45, down 1% in pre market, and DELL is trading at $12.10, up 0.25% in Monday’s pre-market. The Futures & Forex Expo is approaching. Learn Free Money-Making Strategies to Use Now