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HP says it will buy EDS for about $12.6 billion
posted 7:03 am Tue May 13, 2008 - NEW YORK
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Hewlett-Packard says it will buy Electronic Data Systems for about $12.57 billion in cash in a move to more than double its services revenue and become a bigger challenger to IBM.The purchase price of $25 a share represents a 4 percent premium to Plano, Texas-based EDS' closing share price Monday. Palo Alto, Calif.-based Hewlett-Packard says the deal has been unanimously approved by both companies' boards.
It is expected to close in the second half of this year.
It is expected to close in the second half of this year.
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