Market Overview

Zings of the Day (HPQ, HTZ)

Hewlett-Packard (NYSE: HPQ) announced this morning it will buy ArcSight (NASDAQ: ARST) for $43.50 a share, a 25% premium to Friday's close. This comes just 11 days after the company won a bidding war with Dell (NASDAQ: DELL) to buy 3PAR (NYSE: PAR). In other news, the company announced it has replaced CEO Mark Hurd with every
drunken sailor known to man.

Hertz (NYSE: HTZ) said yesterday it had raised its offer for Dollar Thrifty Automotive Group Inc. (NYSE: DTG) to $50 a share, higher than the offer from Avis Budget Group (NYSE: CAR). So
when I go to rent a car to go on vacation, I'll get hit with the merger surcharge, as well as the insurance surcharge, gas surcharge and deflated tire surcharge. I can see this going well for consumers.

Posted-In: M&A

 

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