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NEW YORK - Dell said Thursday it was dropping out of the bidding for 3PAR after Hewlett-Packard raised its offer for the data storage company to 33 US dollars per share or 2.4 billion US dollars.
Dell said it will not increase its offer of 32 US dollars per share.
"We took a measured approach throughout the process and have decided to end these discussions," Dave Johnson, Dell's senior vice president for corporate strategy, said in a statement.
Dell also said it is entitled to receive a 72-million-US-dollar break-up fee from 3PAR.
- AFP/ir
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