Hewlett-Packard, the $73.1 billion technology solutions major, has decided to buy the publicly-held shares of its Indian subsidiary, Digital GlobalSoft Ltd. It will pay the shareholders of Digital GlobalSoft around Rs 1,000 crore for the shares.
Hewlett-Packard has offered Rs 750 per share. This represents a 50 per cent premium on the average weekly closing price of the Digital GlobalSoft scrip on the National Stock Exchange in the last 26 weeks.
Addressing mediapersons in a live conference call from London, Hans Lidforss, vice-president (strategy and corporate development), Hewlett-Packard, said,
