HPE to Acquire Cray for $1.3 Billion
On May 17, 2019, Hewlett Packard Enterprise (HPE), a multinational technology leader, and Cray, a global supercomputer leader, announced that the companies have entered into a definitive agreement under which HPE will acquire Cray for $35.00 per share in cash, in a transaction valued at approximately $1.3 billion, net of cash. WSGR represented Morgan Stanley, which served as financial advisor to Cray, in the transaction.
The transaction is expected to close by the first quarter of HPE's fiscal year 2020, subject to regulatory approvals and other customary closing conditions.
For more information, please see the companies' joint press release.