It's War! HP Issues Statement on Dell's Buyout Plan
Are the PC wars back on? HP just issued the following statement related to Dell's announcement to enter into an agreement to be acquired by Michael Dell and Silver Lake:
"Dell has a very tough road ahead. The company faces an extended period of uncertainty and transition that will not be good for its customers. And with a significant debt load, Dell's ability to invest in new products and services will be extremely limited. Leveraged buyouts tend to leave existing customers and innovation at the curb. We believe Dell's customers will now be eager to explore alternatives, and HP plans to take full advantage of that opportunity."
Dell Inc. today announced it has signed a definitive merger agreement under which Michael Dell, Dell's Founder, Chairman and Chief Executive Officer, in partnership with global technology investment firm Silver Lake, will acquire Dell. For all the details, click here.