With Dell (DELL) conceding defeat to Hewlett-Packard (HPQ) in the bidding war for 3Par (PAR), the Street has returned to the business of trying to find the company something else to buy.
The Street’s suggested shopping list:
Compellent (CML) is up 99 cents, or 6.6%, to $16.
CommVault (CVLT) is up $1.11, or 4.5%, to $25.93.
Xyratex (XRTX) is up 21 cents, or 1.7%, to $12.71.
FalconStor (FALC) is up 16 cents, or 4.8%, to $3.51.
Isilon (ISLN) is up 42 cents, or 2%, to $21.59.
My money is on CVLT!
And here is the WSJ story:
Dell Inc. said it had pulled out of the bidding war for 3PAR Inc. after rival Hewlett-Packard Co. raised its offer for the data-storage company yet again to roughly $2.1 billion.
3PAR, which makes storage products used in cloud computing, accepted H-P's offer, valuing the company at $33 a share. 3PAR called it "superior" to Dell's latest offer. Dell earlier had raised its bid to $32 a share, boosted its break-up fee and proposed a multi-year reseller agreement.
Dell said it would not match H-P's latest offer. "We took a measured approach throughout the process and have decided to end these discussions," said Dave Johnson, senior vice president, corporate strategy. Dell will receive a $72 million break-up fee from 3PAR.
Now that PAR got away, and DELL has it's break-up fee, CVLT could be in DELL's crosshairs.