Defying reports yesterday that the bidding action around Seagate (STX) was trailing off, The New York Post’s Josh Kosman this morning reports that a strategic bidder has emerged, according to anonymous sources.
The logical strategic candidate to buy Seagate would be … Toshiba (TOSYY), having spent $500 million in 2009 to [...]
Article courtesy of BARRONS.com: Tech Trader Daily
While it isn’t clear if the potential Seagate (STX) buyout is actually dead, there are now widespread reports that Kohlberg Kravis Roberts is likely to drop out of the bidding.
Reuters reports that KKR is likely to drop out of a group considering a bid; they cite Bain Capital and TPG [...]
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Isilon Systems (ISLN) is seeking bidders for the company and has hired Qatalyst Partners to solicit offers, Bloomberg reports, citing “two people brief on the matter.”
Qatalyst, which is run by famed Valley banker Frank Quattrone, also advised 3Par (PAR) during the bidding war for the company between Dell (DELL) and [...]
Article courtesy of BARRONS.com: Tech Trader Daily
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 [...]
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Rackspace (RAX) shares are coming under pressure this morning after Benchmark Co. analyst Clayton Moran this morning cut his rating on the stock to Hold from Buy.
Moran notes that the stock has spiked 10% on takeover speculation stirred up by the bidding war for 3Par (PAR). “While Rackspace is a [...]
Article courtesy of BARRONS.com: Tech Trader Daily
As the bidding war between Dell (DELL) and Hewlett-Packard (HPQ) for 3Par (PAR) continues, investors remain on the hunt for other potential acquisitions targets in the storage sector:
Compellent (CML) this morning is up $1.10, or 7.4%, to $16.01. For the week, the stock is up 14.8%.
CommVault (CVLT) today is up [...]
Article courtesy of BARRONS.com: Tech Trader Daily
Hewlett-Packard (HPQ) this afternoon said it has raised its offer to acquire 3Par (PAR) to $27 a share, or $1.8 billion in cash. That tops this morning’s increased bid from Dell (DELL) of $24.30. HP had originally offered $24, after Dell started the bidding for 3Par at $18.
“Our revised proposal [...]
Article courtesy of BARRONS.com: Tech Trader Daily