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HP Snaps Up 3PAR For $2 Billion

Posted by Soulskill on from the only-knows-it-must-feed dept.

adeelarshad82 writes "The bidding war between HP and Dell has reached a swift and dramatic conclusion. One could even say HP sniped the auction at the last minute — to the tune of $2 billion for the acquisition of data storage provider 3PAR. HP's not-so-subtle efforts to pull the company away from a preliminary merger agreement with Dell — a $1.15-billion arrangement announced August 16 — took three successive bids to reach an ultimate conclusion. The final acquisition cost of $2 billion, confirmed by 3PAR late Friday, represents a price of $30 per share of 3PAR stock. That's triple the closing price of the company's stock before Dell's initial offer was made public, and more than double after."

6 of 68 comments (clear)

  1. First post by Anonymous Coward · · Score: 2, Funny

    OM NOM NOM NOM ACQUISITIONS

    1. Re:First post by Tetsujin · · Score: 2, Funny

      So I guess it averages out to $666,666,666.67 per PAR?

      --
      Bow-ties are cool.
    2. Re:First post by Tetsujin · · Score: 2, Funny

      $666,666,666.67 for a PAR? How much would I get for a 20 over par?

      $666,666,686.67, obviously...

      --
      Bow-ties are cool.
  2. Re:Why? by INeededALogin · · Score: 2, Funny

    I usually fold well before I'm in for 2 billion.

  3. Check the bid history by Intron · · Score: 4, Funny

    One could even say HP sniped the auction at the last minute

    Bidder........Bid amount........Bid Time
      HP..........$2,000,000,000....Aug-08-10 11:59:59 PDT
      Dell........$39.95............Aug-08-10 10:37:14 PDT
      HP..........$34.95............Aug-08-10 10:18:22 PDT
      Dell........$24.95............Aug-08-10 9:45:12 PDT
      HP..........$19.95............Aug-08-10 7:06:23 PDT

    --
    Intron: the portion of DNA which expresses nothing useful.
  4. eBay 101 by leromarinvit · · Score: 5, Funny

    Someone needs to teach HP some basic eBay skills. A bidding war doesn't make sense if you're going to snipe anyway. The point of sniping is not letting anybody know beforehand that you're interested in the item!

    --
    Proud member of the Ferengi Socialist Party.