3Par Inc has announced that it is going to restart the merger talks with Hewlett Packard (HP). This announcement was made by 3Par in an official filing with the SEC.

It also said that that its board had met on Monday and gave its approval for the restarting of the talks. They said, quoted the company, that the deal was "reasonably likely" and that the deal will lead up a better and superior tie-up than what they had with Dell.

The California-based firm said that as of now it has valued its shares at $24 each. This is way up than what the deal between 3Par and Dell had when the shares were valued at $18 a share.

Post the declaration, shares of the company continued to rise. As per the deal, HP is going to offer 3Par $1.6 billion for 7.2 million shares. This is 40 per cent higher than the share price of the company on August 16.

HP and Dell have been fighting over for 3Par looking at the kind of data storage infrastructure that it provides.