US personal
computer giant Hewlett-Packard has reached a deal to buy Electronic Data
Systems Corp. (EDS) for 13.9 billion dollars, the two companies disclosed
Tuesday.
In a joint statement, the two sides said that the boards of HP and EDS had
unanimously approved the deal, which prices EDS at 25 dollars per share,
reported dpa.
They said they expected to complete the transaction during the second half of 2008 in what would then more than double HP's revenues.
The final price tag was somewhat higher than the 12 billion dollars which had
been widely reported as the possible takeover cost during the past few days.
Soon after disclosing the deal,Palo Alto, California-based HP also reported its
preliminary second-quarter business figures, showing revenues of 28.3 billion
dollars, up over 10 per cent from 25.5 billion dollars in the same period of
2007.
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