Blackstone plans to buy HP's stake at staggering price
The Dollar Business Bureau World’s largest private equity firm Blackstone Group on Monday announced it is buying global tech giant Hewlett Packard Enterprise’s (HPE) majority stake in the Indian outsourcing firm Mphasis Ltd. for up to $1.1 billion. In what the company claims its biggest acquisition in the Indian market, Blackstone will buy a 60.5% stake from HPE for $6.49 (Rs.430) a share. The company said the transaction will be followed with a mandatory open offer to acquire additional 26% stake in Mphasis for Rs.457.54 a share, in line with the Indian acquisition rules. According to Blackstone, the purchase price, in lieu with a counter to the offer, is likely to vary between Rs.54.66 billion and Rs.70.71 billion ($825 million and $1.1 billion). Other companies ...
