Hewlett Packard Enterprise (HPE) to Spin, Merge Enterprise Services Business with CSC (CSC)
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Hewlett Packard Enterprise Announces Plans for Tax-Free Spin-Off and Merger of Enterprise Services Business With CSC
May 24, 2016 4:05 PM EDTPALO ALTO, CA -- (Marketwired) -- 05/24/16 -- Hewlett Packard Enterprise (NYSE: HPE)
Transaction will deliver HPE shareholders approximately $8.5 billion in expected after-tax value in stock-for-stock exchange; Merger of two businesses expected to produce first-year cost synergies of approximately $1 billion post-close, with run rate of $1.5 billion by end of year one; HPE shareholders will own approximately 50 percent of new combined company; Agreements between HPE and the new company will maintain focus on serving current customers and growing new business opportunities over time; Mike Lawrie to... More