Electronic Data Systems Corp &
Hewlett-Packard Co | Update Date: 07/14/08 |
| Date Announced: 05/13/08 |
| Value (million $USD): 12.56 billion U.S. Dollar |
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| Status: Pending | |
| TRANSACTION DETAILS |
|---|
| Date Announced | 05/13/08 | | |
| Date Originally Announced | 05/12/08 | | |
| Format | Merger | Acquisition techniques | Rumored Deal |
| Attitude | Friendly | Agency | Federal Trade Commission; Justice Department |
| Value | 12.56 billion U.S. Dollar | Advisor Fees | Electronic Data Systems Corp (ED) agreed to pay Citi an advisory and opinion fee of $3 mil and a contingency fee of $27 mil, upon consummation of the merger. ED agreed to pay Evercore Partners an opinion fee of $3 mil. |
| SYNOPSIS |
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| US - Hewlett-Packard Co (HP) definitively agreed to acquire all the outstanding common stock of Electronic Data Systems Corp (ED), a provider of information technology services, for $25 in cash per share, or a total value of $12.565 bil. The transaction, which has received board approval, was subject to customary closing conditions, shareholder and regulatory approval. Originally, HP was rumored to be planning to acquire all the outstanding common stock of ED. |
| TARGET |
|---|
| Name | Electronic Data Systems Corp (EDS) |
| Industries | Prepackaged Software; Data processing services; Information retrieval services; Computer related services,nec |
| City | Plano |
| State | TX |
| Nation | United States |
| Incorporated in | DE |
| Public Status | Public |
| Business Description | Electronic Data Systems Corp, located in Plano, Texas, provides information technology services including the design, development and implementation of information systems. Its core portfolio is developed around information technology, applications and business process services, and IT transformation services. It delivers services to clients in the communications, consumer and retail, energy, financial, healthcare, retail, and transportation industries, as well as governments. The company was founded in 1962. |
| Advisors | Citi; Evercore Partners |
| Target Sales | 22.27 billion U.S. Dollar |
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| ACQUIROR |
|---|
| Name | Hewlett-Packard Co (HPQ) |
| Industries | Instruments to measure electricity; Electromedical and electrotherapeutic apparatus; Semiconductors and related devices; Computer programming services; Computer integrated systems design; Computer maintenance and repair; Computer related services,nec |
| City | Palo Alto |
| State | CA |
| Nation | United States |
| Incorporated in | CA |
| Public Status | Public |
| Business Description | Hewlett-Packard Co, located in Palo Alto, California, manufactures computers, electronic testing and measuring equipment, medical electronic equipment, calculators and other personal information products, and solid state components and instrumentation for chemical analysis. The company also provides software programming, network, distributed systems and data management and maintenance and repair services. The company was founded in 1939. |
| Advisors | JP Morgan & Co Inc; Lehman Brothers |
| Acquiror Sales | 110.40 billion U.S. Dollar |
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