Dell trumps HP's 3Par bid

Hardware vendor confirms 3Par's acceptance of counter offer

Dell has confirmed its revised offer has been accepted by 3Par

Hardware vendor Dell has confirmed that 3Par has accepted its revised offer to acquire the firm.

Reports emerged earlier today that Dell was on the verge of announcing a counter bid for the storage vendor after its initial offers of $1.15bn (£745m) was trumped by HP stumping up $1.6bn for the firm.

In a statement on Dell’s website, the vendor said it has now matched its rival's $1.6bn offer, and 3Par's board has been quick to accept the Texan firm's revised approach.

3Par has also confirmed that a revised merger agreement has been signed between the two companies to reflect the new offer price.

A $72m termination fee has also been agreed upon, should 3Par receive another bid that 3Par’s board consider superior.