8-KOther EventsExhibits & Filings

Hewlett Packard Enterprise Co 8-K Report, Corporate Update (Apr 17, 2017)

Filed April 17, 2017For Securities:HPEHPE-PC

Summary

This 8-K filing from Hewlett Packard Enterprise (HPE) on April 17, 2017, announces the successful completion of its acquisition of Nimble Storage, Inc. The tender offer for Nimble Storage shares concluded on April 13, 2017, with approximately 80.8% of outstanding shares tendered. Following the tender offer, HPE completed the merger, making Nimble Storage a wholly owned subsidiary. This strategic acquisition, valued at approximately $1.0 billion in cash, was funded by HPE's existing cash reserves and aims to bolster HPE's storage solutions portfolio. Investors should note that the transaction has closed, and Nimble Storage is now part of HPE. The filing details the conversion of Nimble Storage's equity awards, including stock options and restricted stock units, into cash payments or assumed HPE equity awards. This acquisition represents a significant move by HPE to enhance its competitive position in the data storage market.

Key Highlights

  • 1HPE has successfully completed the acquisition of Nimble Storage, Inc.
  • 2The acquisition was finalized via a tender offer and subsequent merger, making Nimble Storage a wholly owned subsidiary of HPE.
  • 3Approximately 80.8% of Nimble Storage shares were validly tendered and accepted.
  • 4The total cash consideration paid for Nimble Storage was approximately $1.0 billion, net of cash acquired and before transaction fees.
  • 5The acquisition was funded using HPE's existing cash on hand.
  • 6Nimble Storage's equity awards, including stock options and RSUs, were addressed through cash payouts and assumption by HPE.
  • 7This move is expected to strengthen HPE's position in the data storage market.

Frequently Asked Questions

The main event reported is the consummation of the merger between Hewlett Packard Enterprise (HPE) and Nimble Storage, Inc., making Nimble Storage a wholly owned subsidiary of HPE.

The aggregate consideration paid for Nimble Storage was approximately $1.0 billion, net of cash acquired and excluding transaction fees and expenses.

HPE financed the acquisition using its available cash on hand.

Vested and in-the-money Nimble Storage stock options were cashed out, while unvested options were either cashed out (50% for CEO) or assumed by HPE. Restricted stock units were handled similarly, with some cashed out and others converted into HPE restricted stock units, depending on vesting status and performance metrics.