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Fitch: Dell, Inc. Ratings Unaffected by Increased Bid for 3PAR Inc.
By Market News Video Staff, Thursday, August 26, 4:08 PM ET
Fitch said that Dell Inc.'s (Dell) ratings are unaffected by the company's decision to increase its bid for 3Par, Inc. (NYSE:PAR), a provider of utility storage systems and associated software.
The all-cash transaction is now valued at approximately $1.6 billion compared to Dell's initial bid of $1.15 billion, net of assumed cash.
Fitch expects the acquisition to be funded entirely with cash on hand. The Rating Outlook is Stable. The firm believes the acquisition of 3Par is consistent with Dell's strategy to diversify and transform its revenue mix toward higher margin enterprise solutions.
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