The personal-computer maker has agreed to buy Samsung Electronics Co.’s printer business for $1.05 billion, betting that it can grab share and generate income, even in a shrinking global market.
The deal will add to earnings in the first full year, Palo Alto, California-based HP said in a statement Monday. As part of the agreement, Samsung has committed to buy $100 million to $300 million worth of HP shares on the open market after the acquisition closes, the companies said.
Also read: Caterpillar Says Sales Woes Could Linger
16:36 AT&T, Time Warner poised to lobby lawmakers, regulators on proposed $85-billion merger23
12:23 Lockheed Martin's quarterly profit handily beats estimates20
11:46 GM reports record 3Q earnings despite slowing US sales11
11:41 Caterpillar earnings: 85 cents per share, vs expected EPS of 76 cents19