Hewlett Packard Enterprise surges on move to merge services unit with CSC

May 24, 2016 8:26 PM

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Shares of Hewlett Packard Enterprise soared 10% after the company said late Tuesday that it will spin off its enterprise services unit and merge it with CSC .

The union will create a “a pure-play, global IT services powerhouse,” said HP Enterprise in a statement. CSC Chief Executive Mike Lawrie will become the chairman, president and CEO of the new entity and Meg Whitman will join the board. Once the deal is finalized by March, shareholders of HP Enterpri...

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