Business News
HP Completes Tender Offer for ArcSight, Inc.; Expects to Complete Acquisition Within Several Days
Friday 22. October 2010 - HP today announced that it has completed its tender offer for ArcSight, Inc. that was commenced on September 22, 2010 at a price of $43.50 per share in cash.
HPs tender offer for all of the outstanding shares of ArcSight expired at midnight, New York City time, on October 20, 2010. As of that time, approximately 33.1 million shares, representing approximately 92.1 percent of ArcSights outstanding shares, were tendered and not withdrawn in the offer (including shares tendered by notice of guaranteed delivery). HP has accepted for payment all tendered shares.
The completion of the tender offer is the first step in HPs two-step acquisition of ArcSight. The second and final step, the merger of ArcSight with an HP subsidiary, is expected to occur within the next several days.