HP ups bid for 3PAR; inches closer to the deal

SAN JOSE, USA: Hewlett-Packard Co raised its offer for data storage company 3PAR Inc by $3 to $33 per share, after rival bidder Dell Inc raised its offer to $32, instead of bowing out as many expected.

3PAR said on Thursday that HP's offer is superior and it intends to terminate its previous merger agreement with Dell.

3PAR shares rose to $33.59 in premarket trade from their close on Wednesday at $32.08. They had had mostly traded around $10 this year, until Dell announced its $18 per share bid in August.