John Paczkowski

Recent Posts by John Paczkowski

HP’s New Bid For 3Par: $30 per Share. 3Par’s New Share Price: $31.44.

Oh, it’s really on now.

Hewlett-Packard increased its bid for data storage vendor 3Par to $30 a share this morning–about 90 minutes after Dell matched its previous offer of $27. HP’s (HPQ) latest play for 3Par (PAR) values it at $2 billion, an 11 percent premium over Dell’s $1.8 billion offer, which 3Par accepted shortly after it was made.

Fascinating. Recall that this all began with a $1.15 billion, $18-per-share deal between Dell and 3Par in mid-August. Six bids later, we’re at $30-per-share and $2 billion. Meanwhile, at $31.44, 3Par’s stock is up well over 20 percent this morning. This bidding war may well go another round or two.

Said Jayson Noland of investment firm Robert W. Baird, “The valuation is so extreme now, there’s not really a benchmark where you can say, ‘OK, they’re going to stop here.’ ”

HP Announces Revised Proposal to Acquire 3PAR for $30 per Share in Cash

PALO ALTO, Calif., Aug 27, 2010 — HP (HPQ 38.10, -0.12, -0.31%) today announced that it has increased its proposal to acquire all of the outstanding shares of 3PAR Inc. (PAR 31.57, +5.54, +21.28%) 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.

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Nobody was excited about paying top dollar for a movie about WikiLeaks. A film about the origins of Pets.com would have done better.

— Gitesh Pandya of BoxOfficeGuru.com comments on the dreadful opening weekend box office numbers for “The Fifth Estate.”