European regulators approve Cisco's acquisition of Splunk
EU officials on Wednesday ruled that the Cisco-Splunk transaction does not raise competition concerns. $CSCO $SPLK I looked up the company about 3 months ago and it was discussed here and is quite popular. So I want to bring this topic up today for the weekend. 😊
Transactions was announced in September with Cisco agreeing to pay $157 per share in cash for Splunk. Taking not long from the announcement, its share price quickly jumped to that part.
TheEuropean Commission made its decision on Wednesday, giving $CSCOto the$28 billionpurchase. The deal does not violate antitrust laws. It said the acquisition "will not raise competition concerns, given its limited impact on competition in markets where the companies are active, as there are a sufficient number of alternative players."
Cisco said Splunk $SPLK'ssecurity capabilities complement $CSCO 's existing portfolio and the combination "will provide industry-leading security analytics and coverage from devices to applications to the cloud. Cisco CEO Chuck Robbins added that their combined capabilities "will support the next generation of security and observability with artificial intelligence"
From what I watched of the last debate here, you guys were in agreement on buying somewhere between $40-50 for $CSCO. Of course the lower price would be better. How do you see it now after approval? 😊... The acquisition of this company will surely bring them a shift in AI. But will it be enough to keep up with the competition?
The acquisition seems unnecessarily expensive to me, even if it makes sense strategically.
Looks good to me and in my view it has potential. :)
Well, I don't hold the stock, but if I did, this news would make me happy. It looks pretty good, the stock is not that high and you can see the potential there and I quite like the vision. I'd probably have to look at it in more detail, but from a quick look there now and from what you write it doesn't look bad at all :D