HP to buy ArcSight for $1.5 billion
Hewlett-Packard clinched the acquisition days after it defeated rival Dell in a bidding war for 3Par.
By Scott Moritz, TheStreet
ArcSight shares had been trading at 52-week highs this month as merger speculation heated up interest in the company, which recently put itself on the sales block.
HP says it will pay $43.50 in cash for all of the outstanding shares of ArcSight and expects the deal to close by year's end.
Hewlett-Packard shares were rising 0.1% to $38.21.
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[BRIEFING.COM] Equity indices remain near their flat lines as heavily-weighted sectors continue trading in mixed fashion.
At this juncture, the industrial sector (-0.6%) is the weakest performer among cyclical groups with defense contractors pressuring the space. The PHLX Defense Index is lower by 1.1% with just about every component trading lower. Including today's decline, the Defense Index is now down 2.4% for the week and off 0.7% so far in September. On the upside, General ... More
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