Holders of 33 Percent of 3PAR Stock Back HP Offer

September 3, 2010

3PAR Inc. said today that holders of 33 percent of its outstanding stock already have agreed to Hewlett-Packard Co.’s offer to acquire the storage company for $33 a share or $2.35 billion.

In an 8-K Securities and Exchange Commission (SEC) filing, 3PAR said that owners of “approximately 33% of the outstanding stock of the Company have entered into a tender and voting agreement” to affirm the merger agreement with HP.

3PAR also confirmed that it has paid $72 million it owed Dell Inc. for terminating the prior merger agreement between the two companies.

HP won the three-week long bidding war for 3PAR when the $200 million storage vendor rejected Dell’s last ditch $32 per share proposal in favor of HP’s bid.

Dell subsequently declined to raise its offer for 3PAR and withdrew from the bidding.