Hewlett-Packard Said To Be Close To Buying E.D.S.

May 13, 2008 | 0 Comments

The Hewlett-Packard Company, the personal computer and printer maker, is close to a deal to acquire the Electronic Data Systems Corporation, the operator of corporate computer systems, for $12.6 billion in cash, people involved in the transaction said Monday.

The price of $25 a share would represent a 32.5 percent premium to Electronic Data Systems’ closing price of $18.86 on Friday.

Both sides were in the final stages of negotiations, these people said, with Hewlett-Packard’s board planning to meet Tuesday morning to approve the transaction. Still, these people cautioned, the agreement could be postponed or collapse.

News Source: New York Times
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