As we wait for Dell’s decision on whether it will match HP’s $30 a share offer for storage vendor 3Par, it’s worth ditching the emotion and getting to the bottom line.
Let’s face it, this 3Par bidding war has become a tad ridiculous. It’s all about emotion. In fact, the party that has the sense to walk away will probably be the real victor.
Without further ado, here’s what Dell’s statement should say as it lets HP (HPQ) have 3Par.
Dell gets a clue, drops 3Par
ROUND ROCK, Texas–(BUSINESS WIRE)–Dell announced today that it has regained its sanity and will give up on the 3Par acquisition.
“When we announced plans to buy 3Par we felt that the premium we paid was worth it given our potential for storage synergies. But following HP’s bid, we’ve determined that the quest just isn’t worth it,” said Dell CEO Michael Dell. “We’re happy to let HP pay for an overvalued asset. HP can have it. We had our bout with temporary insanity but got over it.”
“Good luck to HP and whoever is making the decisions there. May your 3Par purchase work out as well as 3Com and Palm will (NOT!). We’ll take our termination fee and run.”
Dell Inc. (NASDAQ: DELL - News) listens to customers and shareholders every once in a while. Dell delivers worldwide innovative technology, business solutions and services they trust and value. For more information, visit www.dell.com.