HP bid to buy PwC Lowered

According to recent reports, Hewlett-Packard has lowered its bid to buy PricewaterhouseCoopers because the firm isn't worth as much as previously thought.

The difference is about $3 billion. Several months ago when talks first began to buy PwC, HP was willing to pay as much as $18 billion because that's how much the firm was valued at given its stock and cash. Now, HP only wants to pay $15 billion.

HP is still keenly interested in PwC, and if the deal goes through, it would make HP the sixth largest provider of IT services. However, the fact that HP will have a huge presence in the IT world may not be enough to solidify the sale.

Chief Executive Carly Fiorina said his company is very price-sensitive, and examining every aspect before a final decision can be made.

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