EDS shareholder sues over Hewlett Packard acquisition


EDS shareholder sues over Hewlett Packard acquisition

Antony Savvas

An EDS shareholder is taking legal action to prevent Hewlett Packard's acquisition of EDS for £7bn.

Shareholder Joseph Villari is suing EDS in a Delaware court to force the outsourcer to auction itself off instead, to try to get a higher price.

Hewlett Packard's (HP) acquisition is expected to be completed in the second half of the year. The £7bn price tag was 32% above EDS' total share value before HP's offer to the EDS board.

HP plans to create a new outsourcing business unit with EDS, which will be led by current EDS CEO Ron Rittenmeyer. He will report directly to HP CEO Mark Hurd.

Related Topics: IT outsourcing, VIEW ALL TOPICS

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