Navigate this market better. Subscribe for FREE stock alerts and information.
Sunday, September 12, 2010
HP to make Takeover Bid for Arcsight
Hewlett Packard has been on a rampage lately, buying out companies left and right, for high-prices figures, in the billions of dollars. HP now has its eyes set on Arcsight, a security company that put itself up for grabs just two weeks ago. The takeover chatter took the company up to new highs, almost entering the $40 range. The stock pulled back to $35, however, HP is expected to make a bid as early as Monday. Sources say that the bid may be as high as $42 - a 20% premium to Friday's close. Others are hoping for a bid or even a counter bid from rivals, at the $45 level.