HP has written to 3PAR CEO David Scott offering to buy the company for $24/share, trumping Dell's $18/share bid. So much for HP's preference for HDS' USP-V technology, which it OEMs as its high-end XP array. HP's bid is worth $1.6bn, a third more more than Dell's bid. It has been approved by HP's board and there is no need to …
I see HP don't need to borrow any money to buy this one. So they have £1bn just lying around then?
I'm sure this isn't the first cash puchase this year either.
WHERE IS MY FUCKING PAYRISE????
Read that letter again....
"We propose to increase our offer to acquire all of 3PAR outstanding common stock to $24.00 per share in cash."
In order to 'increase an offer' the offer must have already been made...
@Read that letter again...
...which is old news already for anyone following the story: http://www.theregister.co.uk/2010/08/23/hp_hostile_3par/
Public offer an attempt to hogtie the 3PAR board?
I think the hp offer is an attempt to get the shareholders onside in view of some 3PAR hostility. If hp were expecting the 3PAR board to go greedy then they wouldn't need to make a public bid, which implies that 3PAR have a preference for Dell's lighter touch over being borged into the hp StorageWorks Division. So hp must be really determined to deny Dell if they are risking buying a company with a hostile board and at a markedly higher price than the Dell offer.
/Yeeeaaarggh, it's a-boarding we goes, mates!
"HP would give 3PAR greater exposure to enterprise-level storage customers". But first HP would actually have to show up with a proposal on time to said storage customers. My storage RFP HP could not make a reasonable bid within a reasonable time frame; they only wanted to take part in a protracted bidding war. Sound familiar?
A good friend inside HP said HP often delivers proposals after the close date on bids, sometimes by weeks. This is a known problem. I wouldn't expect 3PAR to make more sales with HP; but the opposite.
Anonymous Coward delusion more like
What nonsense. HP is no better or no worse than any other organisation at delivering RFP's on time. Organisations will always try and hit an RFP response date, and if they can't will ask for an extension or expect not to be considered. I do not know of a single instance where someone has responded to an RFP weeks after the close date without it being agreed with the customer. It is definitely not a 'known problem'. Perhaps it is 'your friend' who is the only one unable to respond on time? I do however see an increasing number of customers issuing RFP's and expecting responses in unrealistic timeframes but the approach is agree an extension or no bid.