HP BUYS 3COM FOR $2.7Bil.

[Anonymous]

http://blogs.computerworld.com/15083/hp_to_buy_3com_for_2_7b
HP BUYS 3COM FOR $2.7Bil.
Next big tech rivalry: HP vs. Cisco
Hewlett-Packard has agreed to buy 3Com for about US$2.7
billion, pushing forward the giant IT vendor’s strategy for combining
computing, storage, services and networking under one roof. The deal has
been approved by both companies’ boards of directors and is expected to
close in the first half of next year. HP is offering $7.90 per share
for 3Com, about $2 per share above the stock’s price of $5.69 at the
close of trading on Wednesday. U.S. and foreign regulatory approvals
will be required. 3Com will add to HP’s Ethernet switching portfolio,
which is already a growing competitor to Cisco Systems, and add routing
products to its lineup.

[Author]

November 13, 2009 at 11:22 AM