Tech
3Par Picks HP's Latest Bid
FREMONT, Calif. (TheStreet) -- 3Par(PAR) late Friday said it had accepted suitor Hewlett-Packard's(HPQ) latest bid, for $30 a share.
But Dell, HP's rival in the takeover battle for the storage tech company, reportedly said Saturday it was pondering making another offer. In a news release, 3Par characterized the $1.88 billion offer made Friday as a "superior proposal" to the latest one from rival Dell(DELL). 3Par also said it had notified Dell that it intended to terminate their merger agreement after a three-business-day period specified in the agreement. Dell can return with another offer during that period, however, and a Dell representative Saturday said the company was considering doing so, the AP reported. HP made its $30-a-share bid Friday, just hours after Dell had matched HP's previous bid of $27 a share. The bidding war drove up shares of 3Par nearly 80% this week. They closed Friday at $32.46, up $6.43 on the session.TheStreet Premium Services
Jim Cramer's Action Alerts PLUS:
Trade right alongside a Wall Street pro — enjoy access to his Charitable Trust portfolio and be sent trade alerts BEFORE he makes a move. Learn More
OptionsProfits:
Get 50+ trade ideas a week from the industry's top options experts. Plus — exclusive commentary on market trends and essential trading tools. Learn More
Real Money:
Our team of professional Wall Street Pros — including Jim Cramer, Doug Kass, and Nicholas Vardy — delivers intelligent analysis, timely trade ideas, and colorful commentary. Learn More
Stocks Under $10:
Break into the market with small- and mid-cap stocks... all $10 or less! David Peltier tells you exactly which low-priced stocks he's buying and selling. Learn MoreTo begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
blog comments powered by Disqus
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note |
|
|---|---|---|---|---|
| 12,454.83 | 1,317.82 | 2,837.53 | 17.45 |
Oil *
107.26
|
|
DOWN
74.92 |
DOWN
2.86 |
DOWN
1.85 |
DOWN
0.14 |
10 Yr
1.74%
SPDR Gold
152.68
|
|
-0.60%
|
-0.22%
|
-0.07%
|
-0.80%
|
Data delayed 20 minutes |
Connect with TheStreet