S&P 500
7,507.80
-0.22%
Dow Jones
51,595.40
-0.32%
Nasdaq 100
30,411.80
-0.23%
Russell 2000
2,975.48
-0.09%
FTSE 100
0.00
+0.00%
Nikkei 225
71,987.20
+0.02%

Consumer Electronics

3PAR: HP Trumps Dell After Dell Trumped HP (HPQ, DELL, PAR)

Photo of Jon C. Ogg
By Jon C. Ogg Updated Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Invalid Image
Hewlett-Packard Co. (NYSE: HPQ) has just announced that it is retaliating against a Dell inc. (NASDAQ: DELL) bid to acquire 3PAR, Inc. (NYSE: PAR).  The new offer is $27.00 per share, above HP’s $24 bid and above Dell’s revised $24.30 bid made earlier.  This new all-cash offer creates an enterprise value of $1.8 billion for 3PAR.

The horse race continues.  If this was such a hot company, why was the stock so quiet before the consolidation?

3PAR shares closed down 2.7% at $26.03 and shares are trading up around $27.50 in the after-hours session.  The bet is on that Dell will raise its bid and then maybe that HP will raise its bid.

Dell was accused of overpaying for 3PAR at its first $18.00 offer for the company.  After HP offered 33% more, suddenly analysts saw the company became more of a strategic.  Now, the process is getting carried away.  In the end, HP has more resources to buy the company.  HP is also dealing without  permanent CEO.

Welcome to the bidding war.

JON C. OGG

DISCLOSURE:
INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE Brokerage and Active investing products offered through SoFi Securities LLC, member FINRA(www.finra.org)/SIPC(www.sipc.org). Advisory services are offered by SoFi Wealth LLC, an SEC-registered investment adviser. Information about SoFi Wealth’s advisory operations, services, and fees is set forth in SoFi Wealth’s current Form ADV Part 2 (Brochure), a copy of which is available upon request and at www.adviserinfo.sec.gov. Probability of Member receiving $1,000 is a probability of 0.026%; If you don’t make a selection in 30 days, you’ll no longer qualify for the promo. Customer must fund their account with a minimum of $50.00 to qualify. Other fees, such as exchange fees, may apply. Please view our fee disclosure to view a full listing of fees. Investing in alternative investments and/or strategies may not be suitable for all investors and involves unique risks, including the risk of loss. An investor should consider their individual circumstances and any investment information, such as a prospectus, prior to investing. Interval Funds are illiquid instruments, the ability to trade on your timeline may be restricted. Brokerage and Active investing products offered through SoFi Securities LLC, Member FINRA(www.finra.org) /SIPC(www.sipc.org). There are limitations with fractional shares to consider before investing. During market hours fractional share orders are transmitted immediately in the order received. There may be system delays from receipt of your order until execution and market conditions may adversely impact execution prices. Outside of market hours orders are received on a not held basis and will be aggregated for each security then executed in the morning trade window of the next business day at market open. Share will be delivered at an average price received for executing the securities through a single batched order. Fractional shares may not be transferred to another firm. Fractional shares will be sold when a transfer or closure request is initiated. Please consider that selling securities is a taxable event. Options involve risks, including substantial risk of loss and the possibility an investor may lose the entire investment Before trading options please review the Characteristics and Risks of Standardized Options  Investing in an Initial Public Offering (IPO) involves substantial risk, including the risk of loss. Further, there are a variety of risk factors to consider when investing in an IPO, including but not limited to, unproven management, significant debt, and lack of operating history. For a comprehensive discussion of these risks please refer to SoFi Securities’ IPO Risk Disclosure Statement This should not be considered a recommendation to participate in IPOs and investors should carefully read the offering prospectus to determine whether an offering is consistent with their investment objectives, risk tolerance, and financial situation. New offerings generally have high demand and there are a limited number of shares available for distribution to participants. Many customers may not be allocated shares and share allocations may be significantly smaller than the shares requested in the customer’s initial offer (Indication of Interest). For more information on the allocation process please visit IPO Allocation.
Follow 24/7 Wall St. on Google
Photo of Jon C. Ogg
About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

Featured Reads

Our top personal finance-related articles today. Your wallet will thank you later.

The $2.3 Million 401(k) Tax Trap: Why Maxing Out Costs You $64,000 in Retirement
Marc Guberti |

The $2.3 Million 401(k) Tax Trap: Why Maxing Out Costs You $64,000 in Retirement
Bernie Sanders vs. Elon Musk: Would Taxing the Rich Actually Save Social Security?
Michael Williams |

Bernie Sanders vs. Elon Musk: Would Taxing the Rich Actually Save Social Security?

Continue Reading

Jon C. Ogg |

Dell, 3PAR & HP: A Par Five Bidding War (DELL, PAR, HPQ)

They don’t call it a bidding was no reason at all.  Dell Inc. (NASDAQ: DELL) has just raised its offer…

Jon C. Ogg |

Dell Trumped: H-P Bids For 3PAR (DELL, HPQ, PAR)

Dell Inc. (NASDAQ: DELL) was getting criticized for its super-premium buyout of 3PAR, Inc. (NYSE: PAR).  That criticism may have…

Jon C. Ogg |

Top Active Trader Alerts (PAR, DELL, GES, MNTA, NFLX, PCBC, SCON, TRMA, YRCW)

Active traders and day traders have several big movers to choose from this morning.  Stocks on the move are 3PAR,…

Jon C. Ogg |

Dell M&A: A Take-Under in Data Storage (DELL, CML, HPQ, CVLT, ISLN, EMC, IBM, SAP, ORCL, CSCO)

How many ways are there to cause a company’s share price to fall -15%? PC maker Dell Inc. (NASDAQ: DELL)…

Douglas A. McIntyre |

Dell, Under Siege, Overpays For 3Par (PAR)

Dell (NASDAQ: DELL) is not going to be able to buy its way out of trouble. The company and Michael…

Douglas A. McIntyre |

The Twitter-24/7 Wall St. Market Report 8/27/2010 GDP Crash, Boeing Mistake, HP Bid

Twitter has, by most estimates, 100 million members, which makes it one of the largest social networks in the world.…

Douglas A. McIntyre |

Hertz: M&A With A Brain

The president of PAR, which owns 7.7% of the shares in Dollar Thrifty (NYSE: DTR), told The Wall Street Journal…

Jon C. Ogg |

Top Active Trader Alerts (BRCD, BKC, WEN, CRME, MPEL, OREX, PAR)

There are several stocks on the move that will be the focus of active traders and day traders on Thursday…

Douglas A. McIntyre |

Potash And Genzyme: When M&A Reaches It Limits

Some of the recent acquisitions by one public company or another have given shareholders huge windfalls. 3Par was sold at…

Top Gaining Stocks

CarMax
KMX • Vol: 7,330,419
Corning
GLW • Vol: 22,800,969
Intel
INTC • Vol: 233,719,006
Super Micro Computer
SMCI • Vol: 68,465,534
Enphase Energy
ENPH • Vol: 13,978,376

Top Losing Stocks

Accenture
ACN • Vol: 41,744,333
EPAM Systems
EPAM • Vol: 5,636,587
Cognizant
CTSH • Vol: 61,311,400
Coterra Energy
CTRA • Vol: 73,319,495
Kroger
KR • Vol: 26,704,230