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 user 2010-05-03 at 11:36:26 am Views: 53
  • #23625

    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.

    Investors bullish on report HP will
    acquire McAfee

    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