Nutanix stock drops after report HPE interest in acquisition wanes, talks end
Nutanix (NTNX) fell 8.8% in premarket trading after a report that Hewlett Packard Enterprise's (HPE) interest in a potential acquisition of Nutanix (NTNX) is said to have cooled.HPE is...
Sundry Photography/iStock Editorial via Getty Images Nutanix (NASDAQ:NTNX) fell 8.8% in premarket trading after a report that Hewlett Packard Enterprise's (NYSE:HPE) interest in a potential acquisition of Nutanix (NTNX) is said to have cooled. HPE is no longer in talks with Nutanix (NTNX), according to a Dealreporter item, which cited sources. An HPE spokesperson (HPE) confirmed in a statement to Dealreporter that there are no discussions with Nutanix (NTNX).
The update comes after Bloomberg reported late last month that HPE expressed takeover interest in Nutanix and held talks with the cloud computing provider in recent months. Nutanix (NTNX) shares jumped 25% on Oct. 14 after a WSJ report that the cloud-computing firm was exploring a sale after getting takeover interest.
The company was expected to see interest from private equity firms and strategic buyers. Nutanix former CEO reportedly turned down bids from Cisco (CSCO) and HPE in 2016 before Nutanix (NTNX) had its IPO.