Measurement Unit May Hold IPO.
Published:
4 March 1999 y., Thursday
Hewlett-Packard Co. announced plans to break the computer giant into two separate publicly traded entities, splitting its old-line measurement business apart from its printer and computer business. In an announcement made near midday Tuesday, H-P said it would consider holding an initial public offering for 15% of the measurement company later this year, with the rest of the shares distributed tax-free to current H-P shareholders after the IPO. Eliminating the "confusion of having these [businesses] under one roof outweighs the synergies of having them together," said Louis E. Platt, chairman and CEO of H-P. The Palo Alto, Calif., company said the split-up wouldn_t
result in any significant layoffs. The new measurement company will comprise H-P_s test-and-measurement, components, chemical-analysis and medical businesses. These businesses represented $7.6 billion, or 16%, of H-P_s total revenue of $47.1 billion in fiscal 1998. H-P said the new company would be focused on high-growth sectors such as communications and life sciences.
Šaltinis:
Internet
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The future of Europe's troubled car market and 12 million jobs was under scrutiny Tuesday.
more »
Europe must take the lead in finding solutions to the global crisis at next week's G20 summit, British prime minister Gordon Brown told MEPs in a speech in Strasbourg on Tuesday that was warmly welcomed by leaders of the main political groups.
more »
The US and Europe are in the worst economic crisis since the 1930s. With unemployment rising dramatically and businesses failing, fear is spreading.
more »
Monday evening sees MEPs consider the emotive subject of food prices in Europe.
more »
Shares in Wincor Nixdorf AG have fallen 3.5 percent and the ATM company says it is preparing to cut production hours.
more »
Leaders agreed to use €5bn in unspent EU funds to upgrade energy and internet connections. And they raised the ceiling on EU aid to countries having difficulties.
more »
Charges on heavy-goods vehicles should be based in part on the air and noise pollution they produce, according to legislation approved by the European Parliament today.
more »
EU agriculture officials are about to get a reality check. Starting next year, their on-the-job training will include a stint on a working farm.
more »
Privatisation, balanced budgets, low public deficits, and free trade have long been the mantra for prudent economic management.
more »
Building roads and pipelines, ensuring food safety, improving education, fighting discrimination and boosting jobs are all funded from the EU budget.
more »