H-P looks poised to win 3Par


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 The NASDAQ OMX Group, Inc.

This article appears in: Personal Finance , Business , Technology

Referenced Stocks: DELL , HPQ , PAR

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