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Sources Indicate Dell Is Prepping To Outbid Hewlett-Packard For 3Par (DELL,PAR,HPQ,CSCO,IBM)
Aug 24, 2010 (SmarTrend News Watch via COMTEX) --
8/24/2010-Investors who bid 3Par (NYSE:PAR) up 44% Monday in hopes for a bidding war will be pleased to find out that Reuters is reporting that Dell (NASDAQ:DELL) is prepping a sweetened bid for the data storage provider after its previous bid was bested by Hewlett-Packard (NYSE:HPQ).
Reuters source, which remained unnamed, indicated that the new bid could be announced in coming days.
Dell's initial bid for 3Par last week was valued at approximately $1.15 billion.
Dell said before H-P announced its offer that it was willing to pay almost double what shares of 3Par were worth. Dell is sparking a bidding war with the world's largest computer maker and a firm that boasts almost $15 billion in cash on its balance sheet.
Whichever company wins the bidding battle, will get a considerable boost in a challenge to Cisco Systems (NASDAQ:CSCO) and IBM's (NYSE:IBM) market share for data-center products and services.
SmarTrend is bullish on shares of 3PAR and our subscribers were alerted to buy on August 03, 2010 at $10.49. The stock has risen 148.7% since the alert was issued.
Write to Chip Brian at cbrian@tradethetrend.com
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