HP Wins Bid for 3PAR

Sept. 2, 2010

Dell drops out

Dell said on Sept. 2 that it was dropping out of the bidding for 3PAR after Hewlett-Packard raised its offer for the data storage company to $33 per share or $2.4 billion.

Dell said it will not increase its offer of $32 per share.

"We took a measured approach throughout the process and have decided to end these discussions," said Dave Johnson, Dell's senior vice president for corporate strategy.

Dell also said it is entitled to receive a $72 million break-up fee from 3PAR.

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