Hewlett-Packard in Talks to Purchase EDS

Hewlett-Packard(HPQ Quote) confirmed earlier media reports that it's engaged in "advanced discussions" to to acquire Electronic Data Systems(EDS Quote).

"There can be no assurances that an agreement will be reached or that a transaction will be consummated. HP does not intend to comment further until an agreement is reached or discussions are terminated," the company said in a press release late Monday.

Shares of EDS jumped nearly 28% to $24.13 before being halted late in Monday's session. H-P fell about 5% to $46.64; it also was halted before the closing bell. ...