Hewlett Packard's Board Approves Company Split
01 October 2015 - 10:59PM
Dow Jones News
By Lisa Beilfuss
Hewlett-Packard Co.'s board approved the computer giant's
previously announced plan to split into two companies, the company
said Thursday.
The California company's separation into Hewlett Packard
Enterprise Co. and HP Inc. is expected to be completed on Nov. 1,
and the separation will be done through a pro rata distribution to
HP shareholders of all of the outstanding shares of Hewlett Packard
Enterprise.
Each HP holder will receive one share of Hewlett Packard
Enterprise for each share of HP common stock held as of Oct. 21,
the record date.
Starting on or around Oct. 19 and continuing up to the
distribution date, the company expects "when issued" trading to
begin for Hewlett Packard Enterprise shares. Those shares will
trade on the New York Stock Exchange under ticker "HPE WI."
Hewlett Packard Enterprise shares will start "regular way"
trading on Nov. 2 under ticker "HPE" on the NYSE. HP Inc. will
continue to trade under "HPQ" on the NYSE.
Also around Oct. 19 and continuing up to the distribution date,
HP shares that trade in the "regular-way" market under the symbol
"HPQ" will trade with an entitlement to shares of Hewlett Packard
Enterprise common stock to be distributed under the terms of the
distribution. Shares that trade in the ex-distribution market under
the symbol "HPQ WI" will trade without an entitlement to shares of
Hewlett Packard Enterprise common stock.
Write to Lisa Beilfuss at lisa.beilfuss@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
October 01, 2015 08:44 ET (12:44 GMT)
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