3Par accepts Dell's raised offer to meet that of HP

Dell HPAfter keeping quiet for almost three days in the much talked about and hot case of takeover of 3Par, Dell has finally made its move. It has raised its bid price to match that of HP.

Dell took this step after HP raised its bid. Dell has now made its offer at $27 per share and the 3Par's board has agreed to accept the updated merger agreement that it had with Dell.

Both Dell and HP are eyeing together to buy 3Par that is into the business of storage. This will be the second such acquisition, if it happens, by Dell which has already taken over a storage company, Ocarina Networks and server provisioning vendor Scalent.

Meanwhile, the takeover battle for 3Par continues to intensify. Earlier Dell had offered to buy it for $1.15 billion which was later out-bided by HP that made an offer of $1.6 billion or $24 per share.

Dell then again raised its bid and was accepted by 3Par. HP then again raised its bid and made it $27 per share. Dell in a reactionary mode made its bid at $27 per share.

And the board of 3Par has advised the shareholders to accept the revised bid.