HP To Acquire 3PAR After Dell Walks Away From Bidding War

The bidding war between HP and Dell for data storage company 3PAR is over.

The winner? Hewlett-Packard, with a $2.4 billion offer. That was 83 percent above Dell’s first offer and more than three times what 3Par stock was trading at then.

The only silver lining for Dell?

It is entitled to receive a $72 million break-up fee from 3PAR upon the termination of its merger agreement.

Make sure to read this good article from the AP following Dell’s withdrawal from the bidding war.