Deals
HP Buys Autonomy for $10.3 Billion, Plans Spinoff of PC Unit
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Hewlett-Packard Co. is planning a sweeping overhaul of its businesses, agreeing to buy Autonomy Corp. for $10.3 billion and weighing a breakup that would unravel the much-debated Compaq Computer Corp. purchase.
Shareholders of Autonomy, which develops search software, will receive $42.11 a share, Palo Alto, California-based Hewlett-Packard said in a statement. That's 64 percent more than Autonomy’s close yesterday. Hewlett-Packard, whose shares fell after the company issued forecasts that missed estimates, also said it’s considering spinning off its PC division and that it will discontinue products that run WebOS software.