Reports HP Is Eyeing Satyam Computer (SAY)

According to reports from India's Economic Times, Hewlett-Packard (NYSE: HPQ) could be considering a possible takeover of Satyam Computer (NYSE: SAY), as the company reels from a recent failed merger attempt with some related entities.

The report suggests HP could be attracted by Satyam's lucrative business software practice and the opportunity to challenge rival IBM's (NYSE: IBM) bigger, low-cost offshore capabilities is also alluring.

A source cited by the Economic Times claims HP is busy evaluating the option even during the Christmas-New Year holiday season, but also suggests not too much should be read into it, saying, "This is currently being discussed as a strategic possibility at HP - nothing beyond that."

Satyam has a Board of Directors meeting January 10 to address strategic options including a share buyback, a special dividend, or an acquisition.

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