EDS shareholder sues over Hewlett Packard acquisition

An EDS shareholder is taking legal action to prevent Hewlett...

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Outsourcing

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.




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