HPE to Acquire Cray for $1.3 Billion

On May 17, 2019, Hewlett Packard Enterprise (HPE), a multinational technology leader, and Cray, a global supercomputer leader, announced that the companies have entered into a definitive agreement under which HPE will acquire Cray for $35.00 per share in cash, in a transaction valued at approximately $1.3 billion, net of cash. WSGR represented Morgan Stanley, which served as financial advisor to Cray, in the transaction.

The transaction is expected to close by the first quarter of HPE's fiscal year 2020, subject to regulatory approvals and other customary closing conditions.

The WSGR team that represented Morgan Stanley in the transaction included partners Marty Korman, Todd Cleary, and Doug Schnell and associate Wesley Libuit.

For more information, please see the companies' joint press release.