Hewlett Packard Buying 3Com In A $2.7 Billion Deal

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Hewlett Packard (HPQ) is acquiring 3Com (COMS), paying $7.90 per share in cash, an approximate 44% premium from yesterday’s close.

The total enterprise value of the acquisition is $2.7 billion.

3Com is a network gear company, and this puts HP in greater competition with Cisco (CSCO).

Hewlett Packard also raised guidance for the next year by $1 billion.

See Also: Looks like someone leaked the news of this deal!

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