Feeds

HP extends deadline as Autonomy shareholders drag feet

What could lie behind this odd reluctance?

Top three mobile application threats

HP has extended the acceptance deadline for its Autonomy bid as fewer than half the UK software developers' shareholders approved the £7bn deal.

Yesterday's closing date for agreeing on HP's £25.50 per share offer made on 19 August passed with just 42 per cent of Autonomy investors giving the thumbs-up, despite the deal representing a 78 per cent premium based on last month's market valuation.

As a result, HP has pushed out the deadline to 3 October, the US tech titan confirmed in a filing with the London Stock Exchange.

The buy would take HP further into the field of business analytics – a path well-trodden by rival IBM – and follows on from Apotheker's first acquisition as CEO, that of Vertica.

Indeed speculation – and it is just industry gossip – suggested that others were considering making a bid for Cambridge-based Autonomy. However, veteran analyst Richard Holway, chairman at TechMarketView, dismissed this.

"Nobody really expected a rival bid to top that, so it's a bit surprising that acceptances to date are not higher," he said in a blog post this morning.

Holway did note that the share price of Autonomy had risen slightly on the news of the deadline extension, up from opening trades of £25.17 to £25.24 at the time of writing. ®

3 Big data security analytics techniques

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
Sorry London, Europe's top tech city is Munich
New 'Atlas of ICT Activity' finds innovation isn't happening at Silicon Roundabout
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
It may be ILLEGAL to run Heartbleed health checks – IT lawyer
Do the right thing, earn up to 10 years in clink
prev story

Whitepapers

Designing a defence for mobile apps
In this whitepaper learn the various considerations for defending mobile applications; from the mobile application architecture itself to the myriad testing technologies needed to properly assess mobile applications risk.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.