HP Faces ‘No Constraints’ in Battle for 3Par

The month of August has been eventful for shareholders of Hewlett-Packard starting with CEO Mark Hurd’s forced resignation amid charges of financial misconduct and ending with a classic takeover battle for 3Par, a small and unprofitable data storage company specializing in the hot field of cloud computing. HP and Dell are currently slugging it out for 3Par with Dell matching HP’s latest all-cash offer of $1.8 billion, of $27 per share. Both HP and Dell are flush with cash and the bidding war may continue. The current bid of $27 per share for 3Par is nearly three times the price that 3Par’s stock traded at two weeks ago prior to the start of the bidding war. Read this article for more details.

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