H-P looks poised to win 3Par


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Hewlett-Packard ( HPQ ) and Dell ( DELL ) have been locked in a battle for storage-software company 3Par ( PAR ) for the last three weeks, but it looks as though the latter is conceding to the former.

H-P bid $33 for each share of 3Par Thursday, and Dell indicated that it wouldn't make a higher offer. The move all but gives H-P the win - a surprising twist in what has become one of the most closely watched takeover fights in recent memory.

Dell was the first to make a bid for 3Par, which produces software that helps companies manage their data more effectively. Its initial bid was for $1.15 billion; H-P quickly countered with a higher offer. The two tech giants volleyed ever-higher offers back and forth, but H-P's $33-a-share bid - which values 3Par at $2.4 billion - appears to have put an end to the game.

Why did the battle reach such a fever pitch? 3Par is the last independent storage-software company - and it would be a valuable part of either Dell or H-P's portfolio. Also contributing to the frenzy was the wider merger and acquisition market: Last month saw $286 billion in M&A deals, the most since July 2008.

It was the busiest August for M&A on record.

By Benjamin Foster ADNFCR-1724-ID-19935172-ADNFCR

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Personal Finance , Business , Technology
Referenced Stocks: DELL , HPQ , PAR

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