The Price Of Serial M&A: After Gutting HP, Autonomy Strikes Again

Shares of Micro Focus plunged 47% at the moment on the New York Stock Exchange and closed down 46% on the London Stock Exchange — six months after the company had completed the $8.8 billion acquisition of Hewlett Packard Enterprise (HPE), which included Autonomy that HP had calamitously acquired in October 2011. Today’s dive wiped out another $6.5 billion in market capitalization, on top of the self-inflicted damage that the Autonomy acquisition had previously done to HP.