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HP’s Split Frees Up Units to Chase Deals: Real M&A

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Hewlett-Packard Co. executives only had to utter three words to bring speculation of an EMC Corp. acquisition back to life.

Hewlett-Packard still possesses “material nonpublic information” that prevents it from buying back shares, Chief Financial Officer Cathie Lesjak said yesterday after the $69 billion company announced plans to split in two pieces. That suggests talks with EMC -- which were said to have stalled last month because of disagreements over a takeover price and management structure -- aren’t yet dead, said Longbow Research LLC. The breakup may even help facilitate a deal.