In a move that further intensifies the ongoing bidding war between Hewlett-Packard (HP) and Dell for the Freemont, California-based data-storage firm 3Par, HP Thursday raised its offer to $27 per share in cash, or nearly $1.69 billion – an offer that is 11 percent above Dell offer on the same day.

Dell had said, earlier on Thursday, said that its second offer of $24.30 a share in cash, or $1.52 billion, had been accepted by 3Par. While Dell announced its public pursuit of 3Par with its first offer of $18 a share on August 16; HP had responded with a $24 a share offer on August 23.

The $27-a-share offer by HP, which happens to be almost three times more than the 3Par share prices before Dell made the first bid, helped sent 3Par shares rise 6.9 percent to $27.82 in after-hours trading.

While there has been no immediate disclosure from Dell about its intentions of countering HP’s latest bid, Dell’s original agreement with 3Par gives it perpetual matching rights – that is, the ability to match any counter-offer within three days. In addition, as per Dell’s most recent offer, the computer-maker will also get $72 million in penalty in case 3Par withdraws from the merger agreement.

Noting that the company has time to observe the proceedings and match any other offers, Dell’s spokesman David Frink said: “We'll evaluate the situation and act in the best interest of our customers and shareholders. We'll make a more definitive comment when appropriate.”