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HP today announced that it has completed its tender offer for Mercury Interactive Corp. HP’s tender offer for all of the outstanding shares of Mercury expired at midnight, New York City time, on November 1, 2006. As of that time, approximately 85.7 million shares, representing approximately 96 percent of Mercury’s outstanding shares, were tendered and not withdrawn in the offer (including shares tendered by notice of guaranteed delivery). HP has accepted for payment all tendered shares.
The completion of the tender offer is the first step in HP’s two-step acquisition of Mercury. The second and final step, the merger of Mercury with an HP subsidiary, is expected to occur within the next several days.
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