H-P Closes Mercury Tender

About 96% of shares are tendered.
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Hewlett Packard

(HPQ) - Get Report

has completed its $4.5 billion tender offer for

Mercury Interactive

(MERQ)

, with about 85.7 million shares, or 96% of Mercury's stock, tendered.

The acquisition will close in a few days, H-P said Thursday.

The announcement follows several extensions of the offer which prompted some speculation that Mercury shareholders wanted out of the deal. Mercury paid approximately $52 a share for the company, a premium of 33% over Mercury's share price before the acquisition was announced.

Mercury was delisted by the

Nasdaq

in 2005 and was one of the first companies to admit that some of its executives profited from backdated options. Three of its top executives resigned from the company, and one, former CEO Amnon Landan, gave up the rights to 437,500 options after the company voided 2.6 million of them.

Mercury develops and sells software used to test and optimize computer systems and applications.

In recent trading, shares of H-P were 9 cents to $38.64; shares of Mercury were up 4 cents to 51.97.