Feeds

3PAR had three suitors

It approached a fourth

Maximizing your infrastructure through virtualization

HP's decision time 1 - no go

Qatalyst met Company B on Saturday, July 31, and said it needed to raise its bid above its July 23 indication of interest amount. We can assume that Qatalyst said Company B would have to get to more than $18/share. Company B said no on Sunday, August 1, and 3PAR agreed the Dell exclusivity deal on that same day, running through to August 15.

Due diligence meetings took place in these two weeks and coincidentally, Mark Hurd resigned as HP CEO on August 6. In the Dell and 3PAR talks a termination fee of 4.25 per cent was agreed. Michael Dell and David Scott reviewed progress on August 10. The merger agreement was finalised on August 15 and the acquisition announced on August 16.

HP's decision time 2 - go go go

So, everything was done and dusted - except that HP decided to re-enter the game and make a hostile bid on August 23, with a substantially increased offer of $24/share, totalling $1.6bn compared to Dell's $1.13bn. Our understanding is that Dell is now preparing a counter bid, possibly in the $20/share area. A headless HP has made a decisive re-entry into the bidding race for 3PAR and Qatalyst partners now has the circumstances it needs to get as high a valuation of Dell as it can, engaging in a bid price shuffle dance, exchanging partners and testing price proposals in a what has become a 3PAR auction.

The identity of Companies A, B and C have not been revealed. Based on HP's admission of talks with 3PAR preceding the Dell bid and of it increasing its offer than it is almost certain that HP is Company B. Who are Companies A and C? We might assume the possibilities include Oracle and Cisco. HDS invents its own storage and has a new USP-V system due out in the next month or two. IBM has already bought its cloudy high-end storage in the form of XIV. Oracle has the Sun 7000 line but that isn't generally regarded as enterprise class. NetApp invents its own storage architectures and it's generally thought it has a new high end box, a FAS7000 or FAS8000 coming out soon. We can see two other possibilities in the shape of Fujitsu and NEC, but our money is that Oracle was Company A whilst Cisco was Company C. ®

The Power of One eBook: Top reasons to choose HP BladeSystem

More from The Register

next story
Sysadmin Day 2014: Quick, there's still time to get the beers in
He walked over the broken glass, killed the thugs... and er... reconnected the cables*
Auntie remains MYSTIFIED by that weekend BBC iPlayer and website outage
Still doing 'forensics' on the caching layer – Beeb digi wonk
SHOCK and AWS: The fall of Amazon's deflationary cloud
Just as Jeff Bezos did to books and CDs, Amazon's rivals are now doing to it
BlackBerry: Toss the server, mate... BES is in the CLOUD now
BlackBerry Enterprise Services takes aim at SMEs - but there's a catch
The triumph of VVOL: Everyone's jumping into bed with VMware
'Bandwagon'? Yes, we're on it and so what, say big dogs
Carbon tax repeal won't see data centre operators cut prices
Rackspace says electricity isn't a major cost, Equinix promises 'no levy'
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Securing Web Applications Made Simple and Scalable
Learn how automated security testing can provide a simple and scalable way to protect your web applications.