Tuesday, August 24, 2010

3Par Suddenly A Hot Property

It is almost a little hard to imagine that 3Par's (NYSE:PAR) stock spent the last 18 months more or less languishing. Now it seems to be the little black dress of the technology world. 

It was only a week ago that Dell (Nasdaq:DELL) surprised the market with an $18 per share cash offer for this provider of scalable data storage hardware and software, paying an 87% premium at the time. Now Hewlett-Packard (NYSE:HPQ) has stepped up and offered to go one better than Dell. Monday morning HP announced an all-cash offer for 3Par of $24 per share, or $1.6 billion in total.

Although this bid one-ups Dell by about 33%, it apparently does not include a break-up/termination fee. Given that HP could do the deal with its cash on hand, however, the absence of such a contingency may not make all that much difference.  

For the complete piece:
http://stocks.investopedia.com/stock-analysis/2010/3Par-Suddenly-A-Hot-Property-PAR-HPQ-DELL-IBM-EMC0824.aspx

No comments: