Curious about what's going on with the Hewlett-Packard and Dell bidding war for data storage provider 3Par? It's been a crazy day.
This morning, our sister publication The Am Law Daily reported that Dell had submitted an offer of $1.6 billion, over 30 cents per share higher than HP's first offer. That bid placed the purchase price at eight times 3Par's annual revenue, according to Bloomberg. Industry leaders speculated that Dell would match any future offers for 3Par.
Well, the next offer came in this afternoon, with HP laying down $1.69 billion, according to AP.
The bidding war has been going on since last week, when Dell made an initial offer of $18 per share. HP's latest offer breaks down to $27 per share.
Your move, Dell!