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HP signs definitive acquisition agreement for 3Com for USD2.7bn

Posted on: Thu, 12 Nov 2009 08:42:00 EST

Symbols: HPQ, COMS

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Nov 12, 2009 (M2 EQUITYBITES via COMTEX) --
HPQ | Quote | Chart | News | PowerRating -- Technology company HP (NYSE:HPQ) declared on Wednesday the signing of a
definitive acquisition agreement at USD7.90 per share in cash or an
enterprise value of approximately USD2.7bn for 3Com Corporation
(NASDAQ: COMS | Quote | Chart | News | PowerRating), a provider of networking switching, routing and security
solutions.

HP and 3Com's boards of directors approved the terms of the transaction.

The company's acquisition of 3Com will expand its Ethernet switching
offerings as well as routing solutions and add the intrusion prevention
systems, TippingPoint portfolio to strengthen HP's position in China,
put together a research and development team to accelerate innovations
to HP networking solutions.

Under the terms of the merger agreement, 3Com stockholders will receive
USD7.90 for each share of its common stock held at the closing of the
merger and the acquisition is subject to customary closing conditions,
including regulatory approvals.

The transaction is expected to close in the first half of calendar 2010
and HP expects it will be slightly dilutive to fiscal 2010 non-GAAP
earnings.

Comments on this story may be sent to admin@m2.com

For full details on Hewlett-Packard Co (HPQ) HPQ. Hewlett-Packard Co (HPQ) has Short Term PowerRatings at TradingMarkets. Details on Hewlett-Packard Co (HPQ) Short Term PowerRatings is available at This Link.

For full details on 3Com Corp (COMS) COMS. 3Com Corp (COMS) has Short Term PowerRatings at TradingMarkets. Details on 3Com Corp (COMS) Short Term PowerRatings is available at This Link.

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