LONDON - Shares of software company Autonomy Corp., the United Kingdom (AU.LN) rose 76% Friday after the U.S. technology company Hewlett-Packard Co. (HPQ) announced a £ a one billion offer for GBP7.09 a specialist in data analysis.
Autonomy on board, said Thursday it intends to unanimously recommend that shareholders accept the offer of HP GBP25.50 ($ 42.11) per share. The companies said the offer values the range of approximately GBP7.09 million ($ 11.7 billion) on a fully diluted basis.
Autonomy also said its board "irrevocable undertakings" to accept the offer of his own company, representing a total of about 9.1% share of capital input.
"Taking into account the premium and the deployment of self-administration, who are skeptical about an against-offer," said Societe Generale analyst Richard Nguyen. "We expect a very positive response to the current price of autonomy."
At 0733 GMT, the market share of autonomy to 1085 pence to 2513 pence, giving it a market capitalization of just over GBP6.1 billion.
Although a number of other companies with the firepower to a large M and an agreement that will allow a potential supply meter HP is a possibility, analysts said that another bid was unlikely.
"As this is a friendly takeover at a premium and generous it is unlikely that antitrust cases, because of the fragmentation of the market research business to grow, we believe that a successful conclusion is likely with only a low risk of counterbidding by HP's competitors, "said Exane BNP Paribas analyst Josep Bori.
"While we see some large companies capable of a lot of this size to perform is not one of those strategic needs or for a company considered the autonomy to carry out," Morgan Stanley analysts did said.
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