Mergers and Acquistions News
Categories: Hardware
September 13th 2011, 17:16PM
HP, the world's largest technology company, has extended the deadline for its acquisition of information management enterprise Autonomy.
Fewer than half of the UK-based software firm's shareholders have accepted the bid of £25.50 per share.
The initial deadline passed yesterday (September 12th) but has now been put back to October 3rd.
Shareholders representing 41.6 per cent of Autonomy equity have agreed to the deal so far, HP revealed.
It is not uncommon for an offer period to be extended, but analysts expected a greater percentage to have accepted the offer at this stage due to the 79 per cent premium the shares were being bought at compared with the £14.29 closing price.
"There is no real sense that the deal is falling off track. The stock price has not traded down," Jefferies analyst Milan Radia told the Financial Times.
Prior to the completion of the deal, analysts had speculated that should HP be successful, it may cease desktop computer production. 
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