HP Offer Document Sent to Synstar Shareholders
PALO ALTO, Calif., Aug. 13, 2004
HP announced today that the offer document in respect of the recommended cash offer for Synstar Plc, a UK-listed company, was mailed to Synstar shareholders together with the form of acceptance. The offer, which was announced on Aug. 9, 2004, is being made by Merrill Lynch on behalf of HP Global Investments BV, a wholly owned subsidiary of HP, for all of the issued and to be issued share capital of Synstar.
Synstar is a leading independent provider of information technology (IT) services to around 1,500 customers with a direct delivery presence in eight European countries. Across Europe, Synstar helps customers to manage IT infrastructure to reduce costs and increase service quality. Synstar provides managed services that are geared to deliver business availability across desktop configuration and data center environments, and also designs and implements IT risk management strategies.
U.S. shareholders of Synstar may obtain additional information on the offer by searching for "Synstar" at http://www.londonstockexchange.com/rns.
HP is a technology solutions provider to consumers, businesses and institutions globally. The company's offerings span IT infrastructure, personal computing and access devices, global services and imaging and printing. For the four fiscal quarters ended July 31, 2004, HP revenue totaled $78.4 billion. More information about HP (NYSE, Nasdaq: HPQ) is available at http://www.hp.com.
This news release may contain forward-looking statements that involve risks and uncertainties, as well as assumptions, that, if they were to materialize or prove incorrect, could cause the results of HP and its consolidated subsidiaries to differ materially from those expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to statements related to the closing of the proposed acquisition; statements of plans, strategies and objectives of management for future product or service offerings; and statements relating to the execution of any integration plans. The risks, uncertainties and assumptions referred to above include the possibility that the proposed acquisition may not be completed on the terms, or within the timeframe, currently contemplated, or at all; employee management issues; the challenges of integrating this company into HP; the challenge of maintaining customers following the acquisition; and other risks that are described from time to time in HP's Securities and Exchange Commission reports, including but not limited to HP's Quarterly Report on Form 10-Q for the period ended April 30, 2004, and other reports filed after the Annual Report on Form 10-K for the fiscal year ended Oct. 31, 2003. HP assumes no obligation and does not intend to update these forward-looking statements.
Additional Information and Where to Find It
More information about the offer announcement may be found at http://www.londonstockexchange.com/rns. The offer is not being made, directly or indirectly, in or into and will not be capable of acceptance in or from Australia, Canada or Japan. This press release shall not constitute an offer or invitation to purchase any securities.