Whilst you could argue whether 3PAR are worth $2bn, both companies seem to be painting themselves into corners. Dell is beginning to sound like it desperately needs to buy a high-end array company, even though the current EMC OEM deal would seem more than acceptable, which means losing the bidding war would make them look "incomplete". Meanwhile, hp has just lost a CEO in a most embarrassing manner, and needs the good news of defeating Dell to keep the shareholders smiling. How long those shareholders will remain happy as the bidding war reaches silly money prices remains to be seen. A Pyrrhic victory could await hp if Dell simply goes back to EMC, and the same goes for Dell if it ends up having to borrow too much to fund a purchase. Seems like 3PAR's timing was either very lucky or very clever.