Pakistanis angry over detentions in Times Sq. case Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They
AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e
BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German
Minister seeks closure of anti-Berlusconi websites Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who
By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an
Edition:
U.S.
Africa
Arabic
Argentina
Brazil
Canada
China
France
Germany
India
Italy
Japan
Latin America
Mexico
Russia
Spain
United Kingdom
Home
Business
Business Home
Economy
Technology
Media
Small Business
Green Business
Legal
Deals
Earnings
Summits
Business Video
Markets
Markets Home
U.S. Markets
European Markets
Asian Markets
Global Market Data
Indices
M&A
Stocks
Bonds
Currencies
Commodities
Futures
Funds
peHUB
World
World Home
U.S.
Brazil
China
Euro Zone
Japan
Mexico
Russia
Afghan Journal
Africa Journal
India Insight
Global News Journal
Pakistan: Now or Never?
World Video
Politics
Politics Home
Front Row Washington
Politics Video
Technology
Technology Home
MediaFile
Science
Tech Video
Opinion
Opinion Home
Chrystia Freeland
Felix Salmon
Breakingviews
George Chen
Bernd Debusmann
Gregg Easterbrook
James Pethokoukis
James Saft
John Wasik
Christopher Whalen
Ian Bremmer
Mohamed El-Erian
Lawrence Summers
The Great Debate
Unstructured Finance
Newsmaker
MuniLand
Money
Money Home
Analyst Research
Global Investing
MuniLand
Reuters Money
Alerts
Watchlist
Portfolio
Stock Screener
Fund Screener
Personal Finance Video
Life & Culture
Health
Sports
Arts
Faithworld
Business Traveler
Left Field
Entertainment
Oddly Enough
Lifestyle Video
Pictures
Pictures Home
Reuters Photographers
Full Focus
Video
Article
Comments (1)
The latest M & A news
HP extends $11.2 billion Autonomy offer
Daimler CEO: EADS stake talks progressing
Virgin Atlantic keen on combining with bmi
Pfizer extends Icagen tender offer for final time
JPMorgan fund to invest $400 mln in SKIL
SocGen sound, liquidity satisfactory: CEO in paper
SocGen CEO under scrutiny as banks roiled
Follow Reuters
Facebook
Twitter
RSS
YouTube
Read
Obama faces skepticism from swing voters: poll
8:03am EDT
Madonna to critics: review my movie, not me
12 Sep 2011
Taliban attack across Kabul, target U.S. embassy
|
11:06am EDT
Perez Hilton launches celebrity family website
8:00am EDT
US FCC's Internet rules clear a review hurdle
12 Sep 2011
Discussed
199
Obama to propose $300 billion jobs package: report
140
Al Gore in 24-hour broadcast to convert climate skeptics
102
Obama to call for urgent steps on economy
Watched
Buenos Aires Fashion week sizzles
Mon, Aug 22 2011
Perry under attack in U.S. debate
12:28am EDT
Asia’s Priciest Cities
Sun, Sep 11 2011
HP extends $11.2 billion Autonomy offer
Tweet
Share this
Email
Print
Related News
UPDATE 6-HP sinks as investors flee business revamp
Fri, Aug 19 2011
European software stocks leap on HP's Autonomy bid
Fri, Aug 19 2011
Autonomy/HP deal spotlights data deluge
Fri, Aug 19 2011
HP may drop PCs, to buy Autonomy for $11.7 billion
Thu, Aug 18 2011
Analysis & Opinion
Counterparties
Spin-off trend isn’t just for investment bankers
Related Topics
Technology »
Deals »
Global Deals Review: 2011 Q2 »
Global Deals Review »
Inflows Outflows »
A man walks past the Hewlett Packard logo at its French headquarters in Issy le Moulineaux, western Paris, in this September 16, 2005 file photograph.
Credit: Reuters/Charles Platiau/Files
LONDON |
Tue Sep 13, 2011 8:57am EDT
LONDON (Reuters) - Hewlett-Packard has extended the deadline for its $11.2 billion takeover of British software company Autonomy, with analysts predicting the U.S. firm is on course to succeed.
HP has extended the deadline for the offer to October 3 after gaining acceptances from shareholders representing 41.6 percent of shares. The company requires a further 33.4 percent support from Autonomy investors to delist its target from the London Stock Exchange.
"I am very surprised that they have needed to extend it at all," S&P equity research analyst James Crawshaw said on Tuesday. "I would have expected Autonomy shareholders to be all pretty much happy with the takeout price."
Although it is rare for takeover offers to gain more than a handful of acceptances at the first closing date, some analysts said they had expected more investors to take up the offer because HP is offering a hefty 79 percent premium.
HP offered an agreed 2,550 pence per Autonomy share on August 18, which it said valued the enterprise search software company's fully diluted share capital at 7.09 billion pounds ($11.2 billion).
Panmure Gordon analyst George O'Connor said investors that had not yet accepted the offer would hang on to the end for a competitive deal.
"You have got a very decent bird in the hand, but there might be another two in the bush. My own view is that the bush is empty. HP is paying a very decent price. I do not see a competitive bid approaching."
Analysts and bankers are skeptical that a rival offer will emerge to create competitive tension and boost the price.
"I do not think anyone else has the same urgency to buy Autonomy as HP," Tom Gidley-Kitchin at Charles Stanley said.
"I guess that a lot of professional investors are holding onto their shares until late on, against some miniscule chance of some better offer."
A top 50 Autonomy shareholder expressed satisfaction with the offer.
"To be honest we would be quite surprised if there was anything else out there. I wouldn't put us down as being majorly unhappy," the shareholder said.
Gidley-Kitchin said sentiment in the technology sector, hardware and even software, was a bit negative. Autonomy investors may be hanging on because there was nowhere better for them to put their money.
Autonomy shares were steady, up 0.32 percent at 2,525 pence at 0945 GMT.
The offer is conditional on regulatory clearance. HP said on Tuesday that filings have been made in the United States, Austria, Germany and Ireland.
($1 = 0.633 pound)
(Reporting by Julie Crust, Georgina Prodhan, Christopher Vellacott and Victoria Howley; Editing by Dan Lalor and Elaine Hardcastle)
Technology
Deals
Global Deals Review: 2011 Q2
Global Deals Review
Inflows Outflows
Related Quotes and News
Company
Price
Related News
Tweet this
Link this
Share this
Digg this
Email
Reprints
We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/
Comments (1)
tmc wrote:
They are just trying to by a Search system now? They’re like a decade to late…
Sep 13, 2011 5:55am EDT -- Report as abuse
See All Comments »
Add Your Comment
Social Stream (What's this?)
Edition:
U.S.
Africa
Arabic
Argentina
Brazil
Canada
China
France
Germany
India
Italy
Japan
Latin America
Mexico
Russia
Spain
United Kingdom
Back to top
Reuters.com
Business
Markets
World
Politics
Technology
Opinion
Money
Pictures
Videos
Site Index
Mobile
Legal
Bankruptcy Law
California Legal
New York Legal
Securities Law
Support & Contact
Contact Us
Advertise With Us
Connect with Reuters
Twitter
Facebook
LinkedIn
RSS
Newsletters
About
Privacy Policy
Terms of Use
Our Flagship financial information platform incorporating Reuters Insider
An ultra-low latency infrastructure for electronic trading and data distribution
A connected approach to governance, risk and compliance
Our next generation legal research platform
Our global tax workstation
Thomsonreuters.com
About Thomson Reuters
Investor Relations
Careers
Contact Us
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.