HP ups its bid for 3PAR. Again

A day after Dell said it and 3PAR had struck a deal and the storage company appeared to accept it, HP has again intervened and upped the stakes.

HP now says that it will pay $30 a share for 3PAR, valuing the company at $1.88 billion.

Yesterday, Dell offered $1.8 billion, valuing 3PAR’s shares at $27. It originally offered $18 a share for the company in mid-August.

The problem for Dell is that written into the agreement is an ability for 3PAR to accept competing bids. It’s now expected to at least match HP’s latest bid.

So how much is 3PAR really worth? When this kind of bidding war starts a company is worth what another company is willing to pay for it.

Whichever company wins, let’s hope it finds out it’s all been  worth it in the end. Now get on with it 3PAR and stop shilly-shallying.