Date
22 October 2017
HP is said to have abandoned EMC merger talks after failing to agree on price. Photo: Bloomberg
HP is said to have abandoned EMC merger talks after failing to agree on price. Photo: Bloomberg

HP, EMC terminate merger talks: Reuters

Hewlett-Packard Co has ended merger talks with EMC Corp. after months of fruitless negotiations with the storage products maker, Reuters reported, citing people familiar with the matter.

An announcement could come as soon as Wednesday, it said.

The official termination of merger discussions could disappoint hedge-fund Elliott Management, which has pushed hard for EMC to pursue merger or spinoff opportunities, the report noted.

Elliot Management owns 2.2 percent of EMC.

Executives from HP and EMC, two of the tech industry’s largest enterprise-oriented firms, were still trying to hammer out a deal as recently as last week, but talks bogged down on price and are now dead, sources told Reuters.

– Contact us at [email protected]

RC

EJI Weekly Newsletter

Please click here to unsubscribe