Hewlett Packard shares fall 20% on bid for Autonomy

Shares in Hewlett-Packard accept collapsed acutely on account that it is affairs UKcomputer application close Autonomy and may advertise its PC business.HP's approaching affairs additionally accommodate no best affairs smartphones and book computers and refocusing on affairs software.HP shares fell 20% in Friday trading to $23.64.HP's £7.1bn ($11.7bn) action for Autonomy, accustomed by Autonomy's board, is 64% aloft the firm's bazaar value.HP's PC business is the world's largest, but by the end of abutting year, HP computers could be awash beneath addition company's name.Analysts say the move underscores Apple Computing's ascendancy in smartphones and tablets with its iPhone and iPad products.Apple alone agape HP out of the PC, smartphone and book business," said Gleacher & Co analyst Brian Marshall.The fresh action agency that HP, which will abide to advertise servers and added accessories to business customers, will chase the aisle taken by IBM in 2005, sidelining PC accouterments in favour of added profitablecomputer application and services.Analyst Milan Radia at Jefferies said the accord gave HP an "exceptionally able starting point" in the enterprisecomputer application market.