HP TO ACQUIRE PALM FOR $ 1.2B , IS McAFEE NEXT ?

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HP TO ACQUIRE PALM FOR $ 1.2B , IS McAFEE NEXT ?

 user 2010-05-03 at 11:35:39 am Views: 50
  • #23433

    http://news.yahoo.com/s/ap/20100428/ap_on_hi_te/us_hp_palm;_ylt=A0wNdPhXmthLft4AixSyBhIF;_ylu=X3oDMTJiNWo2aTU0BGFzc2V0A2FwLzIwMTAwNDI4L3VzX2hwX3BhbG0EY3BvcwMxBHBvcwMxBHNlYwN5bl90b3Bfc3RvcnkEc2xrA2hwdG9hY3F1aXJlcA–
    HP to acquire Palm for nearly $1 bln in cash
    PALO ALTO, Calif. – Computer maker Hewlett-Packard Co. has agreed to acquire struggling smart phone  maker Palm Inc. for nearly $1 billion  in cash.The companies announced Wednesday they had agreed to the deal, which will see HP pay $5.70 for every Palm common share. Palm had closed trading Wednesday at $4.63 but traded as high as $18.09 in the past 52 weeks.When debt is included, the deal values Palm at $1.2 billion.

    The transaction is expected to close by the end of July.HP said Palm’s webOS operating system will help it participate more aggressively in the fast-growing market for smart phones and connected mobile devices. It also said Palm’s current chairman and CEO, former Apple Inc. executive Jon Rubinstein, is expected to remain with the company.

    http://www.theregister.co.uk/2010/04/26/hp_mcafee_acquisition_speculation/http://www.theregister.co.uk/2010/04/26/hp_mcafee_acquisition_speculation/
    Investors bullish on report HP will acquire McAfee
    Keeping Cisco at bay
    Wall Street investors showed new optimism in the shares of anti-virus provider McAfee after financial analysts speculated it may be acquired by Hewlett-Packard.On Monday, shares in McAfee rose $1.44 to $41.57, the biggest gain in two months following a report from Friedman Billings Ramsey & Co. that an acquisition of the security software company would help HP compete against Cisco Systems. Trading in options, which give an investor that right to buy shares at an agreed-upon price, reached its highest level in close to a decade, according to Bloomberg BusinessWeek.

    More than 31,500 call options to buy McAfee stock changed hands during regular trading on Monday. That was 81 times the four-week average and 10 time the level for puts to sell, the publication said. The most active options were those to buy McAfee at $45 by June 18, followed by those to buy the shares at $45 by May 21. McAfee hasn’t closed above that amount since October, according to Yahoo Finance.”The addition of McAfee would significant strengthen the company’s presence in security and develop a competitive edge” on Cisco, the Friedman Billings report stated. It went on to predict that mergers and acquisitions in the software industry would accelerate this year and next.The spike in the number of options for May and June are signs that some investors agree. They stand to profit if McAfee shares rise above $45