HP extends deadline on £7.3bn Autonomy offer

City A.M. Reporter
Hewlett-Packard said it extended the deadline of its $11.7bn (£7.3bn) takeover offer for Autonomy to 3 October after gaining acceptances from only 41.6 per cent of shareholders at the first closing date.

Shareholders in enterprise search software firm Autonomy were expected to snap up the cash offer, which was 79 per cent above the closing share price on 18 August before the agreed deal was announced and is equivalent to 10 times annual sales.