wsj_0679.xml
WSJ891030-0016
WSJ891030-0016
=
891030
=
891030
891030-0016
.
891030-0016
.
Business
Brief
--
Octel
Communications
Corp.
:
@
Hewlett-Packard
Co.
Raises
@
Stake
to
8.5
%
of
Common
Business
Brief
--
Octel
Communications
Corp.
:
@
Hewlett-Packard
Co.
Raises
@
Stake
to
8.5
%
of
Common
10/30/89
10/30/89
10/30/89
WALL
STREET
JOURNAL
(
J
)
WALL
STREET
JOURNAL
(
J
)
HWP
OCTL
HWP
OCTL
TENDER
OFFERS
,
MERGERS
,
ACQUISITIONS
(
TNM
)
TENDER
OFFERS
,
MERGERS
,
ACQUISITIONS
(
TNM
)
Hewlett-Packard
Co.
said
it
raised
its
stake
in
Octel
Communications
Corp.
to
8.5
%
of
the
common
shares
outstanding
.
In
a
Securities
and
Exchange
Commission
filing
,
Hewlett-Packard
said
it
now
holds
1,384,119
Octel
common
shares
,
including
100,000
shares
bought
from
Aug.
26
to
Oct.
20
for
$
23.31
to
$
24.25
a
share
.
Hewlett-Packard
,
a
Palo
Alto
,
Calif.
,
computer
company
,
said
it
acquired
the
stock
``
to
develop
and
maintain
a
strategic
partnership
in
which
each
company
remains
independent
while
working
together
to
market
and
sell
their
products
.
''
Octel
said
the
purchase
was
expected
.
Hewlett-Packard
affirmed
it
does
n't
plan
to
obtain
control
of
Octel
,
a
Milpitas
,
Calif.
,
maker
of
voice-processing
systems
.
According
to
the
filing
,
Hewlett-Packard
acquired
730,070
common
shares
from
Octel
as
a
result
of
an
Aug.
10
,
1988
,
stock
purchase
agreement
.
That
accord
also
called
for
Hewlett-Packard
to
buy
730,070
Octel
shares
in
the
open
market
within
18
months
.
In
addition
,
Hewlett-Packard
acquired
a
two-year
option
to
buy
an
extra
10
%
,
of
which
half
may
be
sold
directly
to
Hewlett-Packard
by
Octel
.