H-P offers Rs 850 as exit price for Digital GlobalSoft
By Our Corporate Bureau | 28 Jan 2004
Bangalore:
Hewlett Packard has agreed to a final exit price of Rs
850 for each share of Digital Globalsoft Ltd, which it
is buying back through a reverse book-building process
in a bid to make it a 100 per cent subsidiary by delisting
its shares.
HP had earlier said it would pay Rs 750 per share of Digital in its buy-back process and had earmarked about Rs 1,000 crore.
Digital GlobalSoft, in a notice to the Bombay Stock Exchange on Tuesday, said that it had received the formal communication from HP (the ultimate parent of Compaq Computer Holdings Ltd) pursuant to the conclusion of the reverse book building process conducted by HP.
The exit price established by the book building process in accordance with the guidelines was Rs 850 per share, the price at which the largest number of shares was tendered. The acquirer (Hewlett Packard Leiden BV) has announced that it has accepted the exit price and will acquire all the shares tendered at or below the exit price.
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