HP’s message to Dell is clear: “It’s on like Donkey Kong.” That’s what happens when, just a week after you agree to acquire a company for $1.13 billion, your rival steps in with an offer of $1.5 billion for the same company.
In this case, HP is the aggressive rival hoping to scoop up data storage provider 3Par, which seemed all but sold to Dell just a short while ago. HP has offered to pay $24 per share for 3Park, a third more than Dell’s bid of $18 per share.
This tug-of-war between HP and Dell has had a positive effect on 3Par’s shares so far, which rose to $6.66, or 37 percent, to $24.70 in premarket trading. Should HP ultimately win the bidding war, it would be adding to a data storage business that already accounts for about 13 percent of its bottom line.
It’s your move, Dell.
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