Published on 25 May 2016
HP
Enterprises decision to spin off and merge its business-services
division with Computer Sciences Corp. in a deal valued at $8.5 billion
for HPE shareholders is a "win-win for everybody", said TheStreet's Jim
Cramer. Shares of HPE are up almost 10% while Computer Sciences shares
are soaring by 34% to almost $50 on heavy trading volume today as the
Tysons Corner, VA-based global IT provider announced its merger with
Hewlett Packard Enterprise. The company's merger with Hewlett's IT
services businesses is expected to produce cost synergies of about $1
billion in the first year.
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