HP Drops Bid for PwC Consulting

In a surprise announcement, technology giant Hewlett-Packard stated it has withdrawn its bid to purchase the consultancy arm of PricewaterhouseCoopers.

HP had previously indicated its desire to purchase the consultancy company for $18 billion in cash and stock. The acquisition would have provided HP with a highly trained force of nearly 31,500 technology and business consultants. In addition, the purchase would have enabled PwC to escape the potential conflict of interest issues between audit and consultancy work currently under examination by the SEC.

HP also announced fourth quarter earnings results on Monday, surprising Wall Street with unexpectedly low earnings. Analysts had predicted HP would earn 51 cents per share for the quarter; instead HP announced per share earnings of 41 cents.

You may like these other stories...

I recently talked with Doug Sleeter about the current state of the small business consulting profession. We talked about how consultants have great opportunities for competitive differentiation by taking full responsibility...
By Shawn Moriarity, Senior Consultant, SageworksRemember dating in high school? You know that guy or girl who you liked but were pretty sure didn't feel the same way about you? It's likely that you doubtless spent...
By Shawn MoriarityYour car's fuel gauge reads empty and you need to find a gas station. Despite BP's new ad campaign or the magazine article you recently read about ExxonMobil's efforts to "go green,"...

Already a member? log in here.

Upcoming CPE Webinars

Sep 24
In this jam-packed presentation Excel expert David Ringstrom, CPA will give you a crash-course in creating spreadsheet-based dashboards. A dashboard condenses large amounts of data into a compact space, yet enables the end user to easily drill down into details when warranted.
Sep 30
This webcast will include discussions of important issues in SSARS No. 19 and the current status of proposed changes by the Accounting and Review Services Committee in these statements.
Oct 21
Kristen Rampe will share how to speak and write more effectively by understanding your own and your audience's communication style.
Oct 23
Amber Setter will show the value of leadership assessments as tools for individual and organizational leadership development initiatives.