The resumption of buybacks indicated
A decision by Hewlett-Packard to resume buying back its shares most likely signals its interest in data storage provider EMC has faded.
In a short announcement Wednesday, HP said it had suspended the existing stock repurchase program in its third fiscal quarter because it had "material nonpublic information." The resumption of buybacks indicated the company no longer had that information.
People briefed on the matter have said HP had been in talks to merge with EMC for months, which would have led to the creation of a big new technology titan.
Still, the negotiations were difficult and halted several times over a number of issues, including price.
HP is one of the Treasure Valley’s largest employers, with a campus at 11311 Chinden Boulevard in Boise that employs an estimated 3,700 people, about half of whom work in the Imaging and Printing Group.
Representatives for HP and EMC declined to comment.
That does not mean deal-making has been ruled out in the future for either of the technology giants. HP announced last week that it planned to split itself into two public companies, one focused on services for corporate customers and the other on printers and personal computers.