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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology 3PAR says HP acquisition bid 'superior' to Dell's AFP - Sunday, August 29 Send IM Story Print 3PAR says HP acquisition bid 'superior' to Dell's Slideshow: Full Photo Coverage: Internet Portals & Search Engines WASHINGTON (AFP) - – Data storage firm 3PAR said Saturday a newly-raised acquisition offer by computer-maker Hewlett-Packard was "superior" to that made by Dell, amid a bidding war between the PC giants. 3PAR's "board of directors has determined that the unsolicited proposal by Hewlett-Packard Company... constitutes a 'superior proposal,'" the firm said in a statement. "The 3PAR board of directors notified Dell of its intention to terminate the merger agreement with Dell," after a period of three business days, the firm added. HP on Friday announced it would increase its offer for 3PAR to two billion dollars or 30 dollars per share in cash, up 11 percent from Dell's 27 dollars per share offer. HP, the world's largest computer maker, said it did not require financing to carry out the deal that has been approved by its board of directors. It was unclear whether Dell would be willing to up its offer in an effort to win back 3PAR amid what increasingly appears to be a war of prestige between the two giants. The latest bids cap an intensifying two-week battle for 3PAR, which focuses on so-called "cloud computing" in which data is stored remotely. Dell first announced on August 16 it had reached an agreement to acquire 3PAR at 18 dollars per share. HP made a counter bid of 24 dollars per share in cash, which Dell matched. HP then raised its bid to 27 dollars, and Dell followed suit. Both Dell and HP are hoping the acquisition would offer near-exclusive control over the market of advanced high-end data storage solutions, where 3PAR is the most dominant player. 3PAR's technology enables large companies and government bodies to shift to "cloud" storage platforms, giving them extra speed in accessing data and cutting storage costs by nearly 59 percent, according to the company. Recommend Send IM Story Print Related Articles US-TECH Summary Reuters - 38 minutes ago Infineon sells wireless group to Intel AFP - Monday, August 30 Nokia, Siemens confirm NSN investment talks: report Reuters - Monday, August 30 Google acquires social networking startup Angstro Reuters - Monday, August 30 Iraq says sale of donated U.S. computers legal Reuters - Monday, August 30 News Search Top Stories Gun rampage leaves seven dead in Slovakia US spending, incomes edge upward Japan announces 920 bln yen stimulus package Sweden's HQ Bank announces involuntary liquidation Child health at risk from non-prescription drugs: study More Top Stories » Related Full Coverage Internet Portals & Search EnginesLatest development in the online world All Full Coverage » ADVERTISEMENT Most Popular Most Viewed Most Recommended Earth's upper atmosphere shrinking, scientists say Russian spy courts new scandal with racy photo shoot Joy and tears greet US Army troops back from Iraq Paris Hilton arrested for cocaine possession Child health at risk from non-prescription drugs: study More Most Viewed » Obama endorses mosque plan near Ground Zero Earth's upper atmosphere shrinking, scientists say Tiger's ex breaks her silence on sex scandal Belgian man dies of South Asian superbug Most US students think Beethoven is a dog More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010 Copyright © 2010 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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