HP's Whitman Not Ready To Sell Autonomy Or EDS
Bangalore: Recently, Hewlett Packard received numerous proposals to sell off some of its assets, but the company has no intention to sell any major business units including Autonomy and EDS. According to Wall Street Journal, Meg Whitman, Chief Executive of the computing giant refused to accept any of the undisclosed offers.
The sources cited on Wednesday that, unidentified people familiar with the matter termed as “some potential buyers” have expressed their interest in the company’s Autonomy and EDS units.
The normal flow of market has increased in recent weeks because of the rise of two developments. Foremost, the rumor that HP’s rival Dell is on the process to turn privatized in a leverage buyout, urged interest from tech companies and private equity firms, in buying one or both the units. Secondly, development in new language found in HP’s 10K filing with the US Securities and Exchange Commission.
The sources mentioned about the stand that HP will remain intact as a single entity and stressed on Whitman’s unchanged view: Her turnaround plan calls for every significant business unit inside HP to remain part of HP.
The sources also cited the recent rumors where HP suggested about setting up “working teams” to assess the sale of certain assets which weren’t factual.
Whatever cases the company goes through, HP shareholders liked the rumor and shares have increased nearly 4 percent to $17.15 on the news.
