Hewlett-Packard Said to Have Received Approaches on Asset SalesTom Giles
Hewlett-Packard Co. has been approached by investment bankers about selling assets, though it’s not currently considering such a move, according to a person with knowledge of the matter.
The company has seen an increase in inquiries after a regulatory filing late last year that said it would consider disposing of businesses that don’t meet goals, said the person, who asked not to be identified because the overtures were private. The Wall Street Journal earlier reported today that Hewlett-Packard’s Autonomy and Electronic Data Systems divisions had attracted interest from possible suitors.
Under Chief Executive Officer Meg Whitman, Hewlett-Packard has taken $16.8 billion in writedowns related to the diminishing value of the EDS computer-services business and the computer maker’s allegations that Autonomy misrepresented its financial health before it was acquired in 2011.
Hewlett-Packard rose 4.1 percent to $17.21 at the close in New York after earlier climbing as much as 4.8 percent following the newspaper report on asset-sale inquiries.
Michael Thacker, a spokesman for Palo Alto, California-based Hewlett-Packard, declined to comment.