HP Announces Revised Proposal to Acquire 3PAR for $30 per Share in Cash
HP has announced that it has increased its proposal to acquire all of the outstanding shares of 3PAR Inc. (NYSE: PAR) to $30 per share in cash, or an enterprise value of $2.0 billion. The proposal represents an 11 percent premium above the most recent price offered by Dell Inc. of $27 per share. HP’s proposal is not subject to any financing contingency and has been approved by HP’s board of directors. Once approved by 3PAR’s board, HP expects the transaction to close by the end of the calendar year.