Hewlett-Packard (HP) may be giving up on merger talks with EMC Corp.
According to a report from Reuters, HP may announce that it is leaving the talks as early as today, as months of talks failed to prouduce results.
Activist investor, Elliot Management, which owns a little over 2 percent of EMC, had been pushing for a merger of the two companies.
The end of the talks comes just days after HP announced it would be splitting itself into two companies, including one focused on its personal computer and printing business and another on technology services, such as data storage, servers and software, as it aims to drive profits higher.
HP has said it will call the two companies Hewlett-Packard Enterprises and HP Inc, which will play in the PC and printer markets.
Shares of HP were up just under 2 percent to $32.80 in early trading Wednesday, While EMC was down about 1 percent to $27.34.
Filed Under: Devices
