Dell says 3Par accepts its $1.52 billion buyout bid

August 26, 2010 07:49 pm | Updated 07:49 pm IST - NEW YORK

The interior of 3Par headquarters in Fremont, Caifornia. Dell Inc. on Thursday said 3Par has accepted its buyout bid of $1.52 billion. File photo

The interior of 3Par headquarters in Fremont, Caifornia. Dell Inc. on Thursday said 3Par has accepted its buyout bid of $1.52 billion. File photo

Dell Inc. says data storage maker 3Par has accepted its raised buyout bid of $1.52 billion, after the computer maker topped an offer from rival Hewlett-Packard.

The offer is $24.30 a share in cash. That is up from Dell’s previous offer of $1.13 billion.

Rival HP offered about $1.5 billion on Monday, or about $24 per share.

The deal is still subject to government approvals and other closing conditions. It is expected to close before the end of the year.

Dell believes the deal will boost earning by fiscal 2012.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.