Hardware
Hewlett-Packard Closes In on EDS Deal
05/12/08 - 03:35 PM EDT
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Hewlett-PackardHPQ is expected to announce a mega-deal to acquire Electronic Data SystemsEDS, according to news reports. Shares of EDS jumped nearly 28% to $24.13 before being halted late in Monday's session. H-P fell nearly 6% to $46.22 The deal, which could be announced any time, is expected to be valued between $12 billion and $13 billion, according to the Wall Street Journal, which would represent the latest in a string of acquisitions by the Palo Alto, Calif., technology company. H-P acquired Mercury Interactive for $4.5 billion in 2006. In December, H-P CEO Mark Hurd told analysts at a briefing that the company's revenue forecast anticipated some small acquisitions this year, but did not include any major acquisitions. EDS, which is based in Plano, Texas, provides technology outsourcing serves to various companies.
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