Any views on where this stock might be headed?
Its already down by 250 from its high of just a few weeks back and if i knew anything about charts,WHICH I DON,T,maybe it is time to cash a few in

RNS Number : 6495M

Hewlett Packard Co

18 August 2011

FOR IMMEDIATE RELEASE

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION (DIRECTLY OR INDIRECTLY), IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF ANY RELEVANT LAWS OF THAT JURISDICTION

18 August 2011

Recommended cash offer by HEWLETT-PACKARD VISION B.V. an indirect wholly-owned subsidiary of Hewlett-Packard Company for AUTONOMY CORPORATION PLC

Summary:

-- The Board of Autonomy Corporation plc ("Autonomy") and the Board of Hewlett-Packard Company ("HP"), are pleased to announce the terms of a recommended cash offer for the entire issued and to be issued share capital of Autonomy by Hewlett-Packard Vision B.V. ("HP Vision"), a newly incorporated, indirect wholly-owned subsidiary of HP.

-- Under the terms of the Offer, Autonomy Shareholders will be entitled to receive GBP25.50 in cash per Autonomy Share (the "Offer Price").

-- The Offer Price represents:

o a premium of approximately 64 per cent to the Closing Price of GBP15.58 per Autonomy Share on 17 August 2011, being the last Business Day prior to the commencement of the Offer Period;

o a premium of approximately 58 and 50 per cent to the average Closing Price of an Autonomy Share of GBP16.18 and GBP17.02 over the one and three months, respectively, preceding the commencement of the Offer Period;

o a premium of approximately 36 per cent to the fifty-two week high price of an Autonomy Share of GBP18.81; and

o a premium of approximately 59 per cent to the average Closing Price of GBP16.00 per Autonomy Share over the twelve month period to 17 August 2011, being the last Business Day prior to the commencement of the Offer Period.

-- The Offer values Autonomy's fully diluted share capital at approximately GBP7,091 million.

o The acquisition of Autonomy will significantly expand HP's offerings in the market for enterprise information software. Autonomy's leading IDOL platform combined with HP's strength in enterprise software, services and infrastructure will enable the combined business to deliver a next-generation information platform, analytical applications and performance optimisation solutions.

o The Directors of HP expect the acquisition to be accretive to Non-GAAP earnings per share for HP stockholders in the first full year following completion.(1)

-- The Offer will be funded from a combination of HP's existing cash resources and debt financing which has been arranged by Barclays Capital.

-- It is intended that the Offer is to be effected by means of a takeover offer within the meaning of Part 28 of the Companies Act.

-- The Autonomy Directors, who have been so advised by Qatalyst Partners, consider the terms of the Offer to be fair and reasonable. In providing their advice to the Autonomy Directors, Qatalyst Partners has taken into account the commercial assessments of the Autonomy Directors. Accordingly, the Autonomy Directors intend to recommend unanimously that Autonomy Shareholders accept the Offer.

-- The Autonomy Directors have entered into irrevocable undertakings to accept (or procure the acceptance of) the Offer in respect of their respective beneficial interests in Autonomy Shares, representing in aggregate approximately 9.12 per cent of the existing issued share capital of Autonomy. Further details of these irrevocable undertakings are set out in Appendix III.

-- Barclays Capital is acting as joint financial adviser and corporate broker to HP and HP Vision. Perella Weinberg Partners is acting as joint financial adviser to HP and HP Vision.

-- Qatalyst Partners is acting as lead financial adviser to Autonomy. Autonomy has also received financial advice from Citigroup Global Markets Limited, Goldman Sachs International, Merrill Lynch International, UBS Limited and J.P. Morgan Limited. UBS Limited is acting as corporate broker to Autonomy.

_________________

A good short after it rises on bid, HP will not handle it as good as the Doc.

nice if you were a holder yesterday ...... must have been about the only stock to rise ..... would be nice if BLNX got dragged up in its wake, but that's prob just wishful thinking

Bernie - I would rethink that strategy? No change in management at AU.

How do you know Mr.C

i didn't say i knew anything, but unless i'm very much mistaken AU still has a significant holding in BLNX

what do you know Mr C would have been more apt it seems lol!

Looks like it has pulled BLNX up

Cynic

AUTONOMY CORP 12.95%
MICHAEL LYNCH 6.21%

What happens to shorters when a bid like this comes through ?
I don't expect that they can buy back at the expected price.
Aint that a crying shame !

thanks tabby

I would have thought that anyone short would have had a margin call this morning!

No margin call on my spreadbet just a guaranteed stop loss.

meaning the loss to you is ??

40 points = 400

Has anyone seen a qualification date mentioned?

Out of curiosity Bernard, how does 129 pts (12900) profit equate to a 40pts (400) loss: You seem to have gone from 100pp to 10pp?

Sorry 10 per point Gain Thurs 1290 Friday GSL 400

I see there were 2 large purchases yesterday of 4.7 million and 2 million shares - luck?

Very 'lucky' for the fund/obscenely rich investor, although they were at an attractive level regardless of this bid :-)