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3Par Determines Revised HP Proposal Is Superior

By Steven Fromm - 2010-09-02T13:15:09Z

3Par Determines Revised HP Proposal Is Superior

Tony Avelar/Bloomberg

An employee works on 3Par Inc. InServ T-class data storage servers at the company's headquarters in Fremont, California.

An employee works on 3Par Inc. InServ T-class data storage servers at the company's headquarters in Fremont, California. Photographer: Tony Avelar/Bloomberg

3Par Inc. said that it received a revised proposal from Hewlett-Packard Co. to acquire all of 3Par’s outstanding common stock at $33 a share, which is an increase from its previously announced offer price of $30 per share.

The 3Par board has determined that HP’s revised proposal constitutes a “superior proposal.”

3Par said Dell had raised its offer to $32 a share from $27 a share.