Hewlett Packard Company (NYSE:HPQ) is increasing its tender offer to acquire all of the outstanding shares of 3PAR Inc. (NYSE: PAR) to $33 per share in cash.
HP’s tender offer commenced on August 27, 2010 and it is scheduled to expire at 12:00 midnight, New York City time on September 24, 2010, subject to customary tender offer conditions being satisfied. The final closing of the acquisition is expected to occur by the end of the calendar year.
HP creates new possibilities for technology to have a meaningful impact on people, businesses, governments and society. The world’s largest technology company, HP brings together a portfolio that spans printing, personal computing, software, services and IT infrastructure to solve customer problems.
In other HP news, the board of directors has approved the authorization of an additional $10 billion for share repurchases.
HP intends to use the additional authorization as part of its ongoing program to manage the dilution created by shares issued under employee stock plans and to repurchase shares opportunistically.
“HP has a strong balance sheet,” said Cathie Lesjak, HP chief financial officer and interim chief executive officer. “We plan to be active in repurchasing our shares, and we expect to repurchase at least $3 billion worth of our shares in our fiscal fourth quarter at current price levels. This increased authorization will ensure that we have sufficient capacity to continue to be active in repurchasing our shares prior to our fiscal fourth quarter earnings announcement in November.”
HP repurchased approximately $2.6 billion worth of its shares in its fiscal third quarter and, as of July 31, 2010, had approximately $4.9 billion of repurchase authorization remaining under the $8.0 billion repurchase authorization approved by the board in November 2009.
HP has approximately 2.3 billion shares of common stock outstanding.
BREAKING NEWS: Dell said Thursday it won’t match HP’s offer to pay $33 per share for 3Par, or about $2.07 billion. Dell’s decision came barely an hour after 3Par announced it had received Dell’s revised offer of $32 per share and then the even stronger bid from HP.
MusclePharm Corporation (OTCBB:MSLP), one of the fastest growing nutritional supplement companies in the United States with a proprietary formulation used in eight performance products, reports that MuscleGel achieved NSF certification. In addition, the Company�s Recon and Assault nutritional products will be NSF certified within the coming months.
NSF International is an independent, not-for-profit organization that meets the growing demands of athletes, coaches and all those concerned about banned substances in sports supplements. NSF International created the new NSF Certified for Sport Program. This new NSF program is a focused solution designed to minimize the risk that a dietary supplement or sports nutrition product contains banned substances. This program is part of NSF�s successful 60-year history of providing certification programs for food, water and consumer goods.
MLB, the MLB Player�s Association, NFL, the NFL Player�s Association, PGA, LPGA and the CCES have all chosen NSF�s Certified for Sport program to help verify the products their athletes use are safer and free of banned substances. NSF GMP for Sport certification verifies that the facility, operations and ingredient sourcing are in compliance with GMP requirements via ongoing audits.
MusclePharm�s top management has extensive experience in the sports world and has harnessed this drive and focus into building a business to benefit its customers and help Fuel The Athlete Inside.
Headquartered in Aurora, Colorado, the company is a fast-growing developer and manufacturer of safe, scientifically approved, nutritional supplements that are free of banned substances and tested by athletes. They are designed to help athletes, bodybuilders, weightlifters and fitness enthusiasts improve their performance.
Crown Equity Holdings Inc. (OTCBB:CRWE) announces that its sales this year have already surpassed $1,000,000. This compares to $232,510 for the three quarters ending September 30, 2009 and $ 659,907 total sales for the year 2009.
�Based on our sales to date, we had more than 4 times the sales for the same period last year and are 34% ahead of last year�s total sales,� commented Kenneth Bosket, President and CEO of Crown Equity Holdings Inc. �Our growth in sales along with our investments in infrastructure and people give the company a basis for supporting future growth of the magnitude we have seen so far this year,� stated Bosket.
Crown Equity Holdings Inc. has expanded its internet footprint internationally to include the following countries: Argentina, Australia, Brazil, Canada, China, France, Germany, Hong Kong, India, Ireland, Italy, Japan, Korea, Mexico, New Zealand, Singapore, Spain, Taiwan and the UK.
Crown Equity Holdings Inc. is a consulting organization which provides and assists small business owners with the knowledge required in taking their company public, and has re-focused its primary vision with its aligned group of independent website divisions to providing media advertising services, as a worldwide online media advertising publisher, dedicated to the distribution of quality branding information, as well as search engine optimization for its clients.
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