The deal offers $ 40 for each share of Poly, a premium of about 53 percent to the company’s last closing price.
Reuters
March 28, 2022 / 05:51 PM IST
Source: Reuters
HP Inc said on Monday it would buy audio and video products maker Poly for $ 1.7 billion in cash, a move that would help it take advantage of the electronic products boom sparked by hybrid working.
The deal offers $ 40 for each share of Poly, a premium of about 53 percent to the company’s last closing price.
Including debt, the purchase is valued at $ 3.3 billion.
The buyout will strengthen HP’s industry opportunity in hybrid work solutions and position the company for long-term growth, it said.
The deal is expected to close by the end of 2022.
`); } if (res.stay_updated) { $ (“.stay-updated-ajax”).html(res.stay_updated); } } catch (error) { console.log(‘Error in video’, error); } } }) }, 8000); })
