Enterprise software firm Autonomy Corporation (LON:AU.) announced this morning that it has had acceptances from shareholders to the tune of 240.1 million shares (around 96.3 per cent of the firm’s shares) for its proposed takeover by Hewlett-Packard Company .
Almost two months ago, on August 18, HP made an offer worth US$10.2 billion for Autonomy.
Following the offer being declared wholly unconditional on October 3, and sufficient acceptances under the offer having been received, the firm confirmed today that the 20 business days’ notice period of the cancellation of Autonomy’s shares on the Official List of the London Stock Exchange has begun. It anticipates that cancellation of listing and trading will take effect on November 14.
The firm stress that shareholders should note that cancellation of the listing is likely to significant reduce the liquidity of any Autonomy shares in respect of which the offer has not been accepted. “As such, Autonomy shareholders who have not yet accepted the offer are urged to do so immediately,” added the firm.