No rockem and sockem in Dell’s 10-Q:

August 27, 2010

Was it really only the beginning of last week that Dell (DELL) announced plans to buy 3Par (PAR)? My how time flies! Since then, it’s been hard to keep up with the near hourly updates on the tussle between two computer giants — Dell and Hewlett-Packard (HPQ) over a company that up until recently judging by its stock chart wasn’t exactly on anyone’s radar. Just to recap quickly, Dell initially offered $18 a share for 3Par last Monday and the price (as of this morning) is now $30 as the two giants duke it out.

And the filings, well, let’s just say that we’re glad these things are mostly electronic now since whole forests would need to be cleared. By our count, Dell has filed 11 documents, HP has filed 7 and 3Par, the source of all this attention, has filed a whopping 25. Just think about the number of attorneys and paralegals involved in writing all this stuff and your eyes will really start to spin!

Given all this drama, and the fact that Dell filed its 10-Q late yesterday, we found it a bit odd that they decided to play it so straight when it came to describing what’s going on. After all, we haven’t seen this level of tussling since we played with Rock Em Sock Em Robots. Here’s a snip:

In August 2010, Dell made an offer to acquire 3Par Inc. (3PAR), a global provider of storage solutions optimized for the cloud environment. The acquisition of 3PAR is anticipated to enhance Dell’s storage portfolio and provide Dell’s customers with solutions at every storage tier. Subsequent to Dell’s offer to acquire, 3PAR received a competing offer and Dell responded by increasing its original offer to approximately $1.6 billion, net of 3PAR’s cash. Dell cannot predict the outcome of this matter at this time.

We honestly expected a bit more fire and brimstone in the Q. After all, if most of us were expecting to pay $18 for something and it was suddenly $30 or more, chances are we’d be doing a fair amount of whining ourselves. And, of course, the numbers are really a lot bigger.

Image source: Glocally Newark:

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