HP’s bid for EDS passed by US regulators | | 2008-07-01 | | Hewlett-Packard’s $13.9bn bid for computer services global giant Electronic Data Systems (EDS) moved a step closer this week.
The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 relating to HP’s proposed acquisition of Electronic Data Systems Corporation has expired without objection from the U.S. Department of Justice or the Federal Trade Commission.
European regulators have yet to give their approval and EDS shareholders will vote on the issue at the end of July.
EDS founded in 1962 by one time presidential candidate Ross Perot was a pioneer in outsourcing and maintenance services to big business and government departments. Clients include General Motors, Bank Of America, Arcandor, Kraft, United States Navy, the UK Ministry of Defence and the Royal Dutch Shell.
The merger, if it takes place, will catapult HP to second place in the technology services industry behind IBM Global Services.
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