US data storage firm 3PAR has given computer maker Dell three days to revise its takeover offer after rival Hewlett-Packard made a superior bid.
On Monday, HP announced a $1.6 billion offer to buy 3PAR for $24 per share in cash, representing a 33.3% premium above Dell's offer last week for $1.15 billion.
In a statement to the Securities and Exchanges Commission, 3PAR said Dell had 72 hours to revise its offer before it would take HP's 'superior proposal'.
Analysts say the bids highlight the computer manufacturers' effort to target advanced and more complex computer systems as the personal desktop and laptop market near their peak.
HP said the acquisition would accelerate its 'converged infrastructure strategy, which provides customers with an unmatched portfolio of intellectual property across storage, server and networking solutions'.
