![]() ![]() The deal, however, would have been an all-stock transaction, billed as merger between equals, not as an acquisition by HP, according to the WSJ. HP's track-record on mega-mergers is iffy at best. In 2012, HP wrote off a whopping ~$17 billion from its mega deals, including Compaq, EDS and Autonomy. ![]() Whitman even admitted it paid too much for at least one mega-deal (the $11 billion it paid for Autonomy). HP is only now digging itself out of a hole from its decades-long acquisition binge that left it heavily in debt, laying off up to 50,000 employees. This is surprising news for all sorts of reasons. “They were very close last week, and then things went on pause,” says the source. “Meg was going to run the company, Joe’s guys were going to have significant roles, it had been worked out who would run the divisions, they’d done all this work on it,” says the source, referring to HP’s CEO, Meg Whitman, and EMC’s CEO, Joe Tucci. Both companies were concerned they couldn't sell the deal as it was to shareholders, reports the WSJ.īut they had a lot of details ironed out including who would be the boss - HP CEO Meg Whitman - and which executives would run which units.Īnother source close to the company told Barron's Tiernan Ray that the deal isn't completely dead: For nearly a year, EMC and HP have been kicking the tires on a merger that would have created one the biggest enterprise tech companies on the planet - with over $130 billion in annual sales, according to the Wall Street Journal.įor comparison, IBM is expected to do $98 billion in annual sales this year.Īpparently, the talks have stalled because they couldn't agree to terms. ![]()
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