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HP to Buy 3Par for $2.35 Billion as Dell Walks Away

Hewlett-Packard Co. agreed to buy 3Par Inc. for $2.35 billion, ending an 18-day bidding war with Dell Inc. for the maker of storage systems and stepping up its rivalry with EMC Corp.

The $33-a-share cash offer has been approved by the boards of both companies, HP and 3Par said today in a joint statement. Dell, whose last bid was for $32 a share, decided to end its discussions with 3Par, Dave Johnson, Dell senior vice president for corporate strategy, said today in a separate statement.