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EC gives HP-EDS merger the nod

Approval for $13.9bn deal

Tags: merger, eds, hp

By Jennifer Guevin

Published: 29 July 2008 08:45 BST

A proposed acquisition by HP of computer services company EDS has won approval from the European Commission.

In May, HP announced it would buy EDS for $25 per share, or $13.9bn. Under the deal, EDS will operate as a new business unit (called EDS) and will continue to be led by Ronald A Rittenmeyer, its current chief executive officer.

The EDS buy will pit HP squarely against IBM, and make it second only to IBM in the realm of outsourced computer services.

But the enormity of the merged companies and culture differences between the two groups will make this acquisition challenging, Gartner analyst Ben Pring said at the time it was announced.

The deal won approval from US antitrust authorities on 30 June.

Original article: HP-EDS merger gets OK in Europe from CNET News.com

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