TelecomTV TelecomTV
  • News
  • Videos
  • Channels
  • Events
  • Directory
  • Smart Studio
  • Surveys
  • Debates
  • Perspectives
  • DSP Leaders World Forum
  • DSP Leaders
  • Great Telco Debate
    • |
    • Follow
    • |
    • Subscribe
  • |
  • More
  • Webcasts
  • Surveys
  • Debates
  • Perspectives
  • Great Telco Debate
  • |
  • Follow TelecomTV
  • |
    • Subscribe
    • |
  • About
  • Privacy
  • Help
  • Contact
  • Follow TelecomTV
  • About
  • Privacy
  • Help
  • Contact
  • Sign In Register Subscribe
    • Subscribe
    • Sign In
    • Register
  • Search

Tracker

TelecomTV TRACKER

Sourced by TelecomTV's TRACKER platform
from HP (US)

Tracker

HP Board of Directors Approves Separation

Via HP (US)

Oct 2, 2015

  • Separation will occur by means of a distribution to HP stockholders of 100% of the outstanding shares of Hewlett Packard Enterprise
  • Each HP stockholder will receive one share of HPE common stock for every one share of HP common stock held
  • Hewlett Packard Enterprise shares to begin trading on the NYSE November 2, 2015

PALO ALTO, Calif. October 1, 2015 — The Board of Directors of Hewlett-Packard Company (“HP”) yesterday approved the previously announced separation of HP into two independent, industry-leading companies: Hewlett Packard Enterprise Company and HP Inc. The separation is expected to be completed on November 1, 2015.

Hewlett Packard Enterprise Company (“Hewlett Packard Enterprise”), will provide the cutting-edge technology solutions enterprises need to optimize their traditional IT while helping them build a secure, cloud-enabled, mobile-ready future. Specifically, this company will include HP’s best-in-class portfolio across its Enterprise Group, Enterprise Services, Software and Financial Services businesses.

HP Inc. will own and operate HP’s market leading printing and personal systems businesses. HP Inc. will have an impressive portfolio and a strong innovation pipeline across areas such as multi-function printing, Ink in the Office, graphics, commercial mobility, and services.

“This separation will enable us to accelerate the turnaround we began four years ago,” said Meg Whitman, Chairman, President and Chief Executive Officer, HP. “As two independent, industry-leading companies, Hewlett Packard Enterprise and HP Inc. can drive more focused business strategies, innovation roadmaps, and go-to-market models. The separation will also present better choices for investors by creating two distinct and attractive investment profiles.”

The separation will occur by means of a pro rata distribution to HP stockholders of 100% of the outstanding shares of Hewlett Packard Enterprise. The distribution is expected to occur on November 1, 2015. In connection with the separation, HP will be renamed HP Inc. Consequently, the separation will provide HP stockholders with ownership interests in both HP Inc. and Hewlett Packard Enterprise.

Each HP stockholder will receive one share of Hewlett Packard Enterprise common stock for every one share of HP common stock held as of October 21, 2015, the record date for the distribution. No fractional shares of Hewlett Packard Enterprise will be issued. Stockholders will receive cash in lieu of fractional shares.

Beginning on or about October 19, 2015 and continuing up to the distribution date, it is expected that “when issued” trading will begin for Hewlett Packard Enterprise shares on the New York Stock Exchange (“NYSE”) under the ticker symbol “HPE WI”. Hewlett Packard Enterprise shares are expected to begin “regular way” trading on Monday, November 2, 2015 on the NYSE under the ticker symbol “HPE”. HP (to be renamed HP Inc.) will continue to trade on the NYSE under the ticker symbol “HPQ”.

Also beginning on or about October 19, 2015 and continuing up to the distribution date, it is expected that there will be two markets in HP common stock. HP shares that trade in the “regular-way” market under the symbol “HPQ” will trade with an entitlement to shares of Hewlett Packard Enterprise common stock to be distributed pursuant to the distribution; shares that trade in the “ex-distribution” market under the symbol “HPQ WI” will trade without an entitlement to shares of Hewlett Packard Enterprise common stock.

HP stockholders are urged to consult their financial and tax advisors regarding the particular consequences of the distribution in their situation, including, without limitation, the specific implications of selling Hewlett Packard Enterprise shares and the applicability and effect of any U.S. federal, state, local and foreign tax laws.

No action is required by HP stockholders in order to receive Hewlett Packard Enterprise shares in the distribution. HP expects that the information statement regarding the separation will be made available to all HP stockholders entitled to receive Hewlett Packard Enterprise shares in October. The information statement is an exhibit to the Registration Statement on Form 10 filed by Hewlett Packard Enterprise with the U.S. Securities and Exchange Commission (“SEC”), and describes Hewlett Packard Enterprise and its business, including details regarding the separation and distribution and certain risks of owning Hewlett Packard Enterprise shares.

The separation and distribution remain subject to certain conditions, including, among others receipt of a favorable IRS ruling and opinions of HP’s tax advisors regarding certain U.S. federal income tax matters and the effectiveness of the Form 10. For more information, view the full Hewlett Packard Enterprise Form 10 at http://www.sec.gov and visit HP’s Investor Relations site.

Related Topics
  • Announcement,
  • Cloud,
  • Device Software & Apps,
  • Digital Platforms & Services,
  • Enterprise,
  • HP,
  • Mobile,
  • News,
  • North America,
  • Tracker,
  • Transformation

More Like This

Access Evolution

ADVA announces record Q4 2020 results and reports full year 2020 figures

Feb 25, 2021

Access Evolution

Telefónica’s net income grows 38.5% in 2020 to reaches €1.582 billion

Feb 25, 2021

Open Networking

Liverpool City Region announces construction of a 212 km high speed full fiber network

Feb 25, 2021

AI, Analytics & Automation

Siemens, IBM, Red Hat Launch Hybrid Cloud Initiative to Increase Real-time Value of Industrial IoT Data

Feb 24, 2021

Digital Platforms & Services

Facebook strikes Australia news sharing agreement

Feb 24, 2021

This content extract was originally sourced from an external website (HP (US)) and is the copyright of the external website owner. TelecomTV is not responsible for the content of external websites. Legal Notices

Email Newsletters

Stay up to date with the latest industry developments: sign up to receive TelecomTV's top news and videos plus exclusive subscriber-only content direct to your inbox – including our daily news briefing and weekly wrap.

Subscribe

Top Picks

Highlights of our content from across TelecomTV today

On-demand Workshop: How to build your cloud native 5G core platform

16:48

The case for mmWave in 5G networks

25:55

The Private Mobility Opportunity for Enterprises

12:04

VMware learnings from DISH 5G rollout

  • TelecomTV
  • Decisive Media

TelecomTV is produced by the team at Decisive Media

Menu
  • News
  • Videos
  • Channels
  • Directory
  • Smart Studio
 
  • Surveys
  • Debates
  • Perspectives
  • Events
  • About Us
Our Brands
  • TelecomTV Tracker
  • TelecomTV Perspectives
  • DSP Leaders
  • DSP Leaders World Forum
  • The Great Telco Debate
Get In Touch
[email protected]
+44 (0) 207 448 1070

Request a Media Pack

Follow
  • © Decisive Media Limited 2021. All rights reserved. All brands and products are the trademarks of their respective holder(s).
  • Privacy
  • Terms
  • Legal Notices