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Dell Concedes 3par To Hp After 2 Point 4 Billion Bid

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by Cromwell Schubarth
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Sep 02 2010 11:34am EDT

HP Beats Dell in 3Par Battle

Dell Inc. said Thursday morning that it won't seek to beat a new $2.4 billion that Hewlett-Packard Co. has made to buy 3Par Inc.

3Par said earlier that HP had made another superior bid which gave Dell the option of matching it.

“We took a measured approach throughout the process and have decided to end these discussions,” said Dave Johnson, Dells's senior vice president of corporate strategy said it a prepared statement.

“We will continue to put the interests of our customers and shareholders at the forefront of all our decisions,” said Brian Gladden, Dell's chief financial office in the statementr. “Our focus is to create long-term value.”

For more on HP's triumph in the 3Par bidding war, read the full report on the Silicon Valley/San Jose Business Journal.

Cromwell Schubarth is the Multimedia/Research Editor for the Silicon Valley/San Jose Business Journal.

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