Bloomberg News

Hewlett-Packard Said to Have Received Approaches on Asset Sales

January 16, 2013

Hewlett-Packard Co. (HPQ:US) has been approached by investment bankers about selling assets, though it’s not currently considering such a move, according to a person with knowledge of the matter.

The company has seen an increase in inquiries after a regulatory filing late last year that said it would consider disposing of businesses that don’t meet goals, said the person, who asked not to be identified because the overtures were private. The Wall Street Journal earlier reported today that Hewlett-Packard’s Autonomy and Electronic Data Systems divisions had attracted interest from possible suitors.

Under Chief Executive Officer Meg Whitman, Hewlett-Packard has taken $16.8 billion in writedowns related to the diminishing value of the EDS computer-services business and the computer maker’s allegations that Autonomy misrepresented its financial health before it was acquired in 2011.

Hewlett-Packard rose 4.1 percent to $17.21 at the close in New York after earlier climbing as much as 4.8 percent following the newspaper report on asset-sale inquiries.

Michael Thacker, a spokesman for Palo Alto, California- based Hewlett-Packard, declined to comment.

To contact the reporter on this story: Tom Giles in San Francisco at tgiles5@bloomberg.net

To contact the editor responsible for this story: Tom Giles at tgiles5@bloomberg.net


Steve Ballmer, Power Forward
LIMITED-TIME OFFER SUBSCRIBE NOW

Companies Mentioned

  • HPQ
    (Hewlett-Packard Co)
    • $34.49 USD
    • -0.25
    • -0.72%
Market data is delayed at least 15 minutes.
 
blog comments powered by Disqus