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] There wasn't a lot of excitement in the stock market today and there is nothing wrong with that. After rallying in broad-based fashion on Friday, the major indices stood their ground (for the most part) amid a lack of conviction from buyers and sellers alike.
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