HP Looks To Buy EDS
May 13, 2008 | by Christopher Nickson
The Wall Street Journal reports are true — Hewlett-Packard admits it's negotiating to buy one of its largest suppliers, Electronic Data Systems.
The story broke first in the Wall Street Journal, which reported that computer maker Hewlett-Packard was in talks with IT company Electronic Data Systems (EDS) to buy the company for between $12-13 billion. That gave a sharp boost to EDS shares, which rose 27.9% - although those of HP dropped 4.7% at the news. Once markets had closed, however, HP admitted in a statement that the story was true: "HP today confirmed that it is engaged in advanced discussions with Electronic Data Systems Corporation regarding a possible business combination involving the two companies." The speculation is that the deal could make HP a major player in the IT services market, something they’ve been trying to crack for some time.
Post Your Comment...Comments
Comment on this article
Please keep your comments relevant to this article. Email addresses are not displayed, they are only required to verify you are human.
When you submit your comment, an email will be sent to your email address with a confirmation link. Once you have clicked on that confirmation link your comment will be posted.
HTML is not allowed.
RSS Feed
Be the first to comment on the article!