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July 25, 2008 12:44:55 PM CDT

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HP, Looking for Edge, Close to Buying EDS for $12-13B

Posted May 12, 08 4:29 PM CDT in Business,  Technology 

(Newser) – Hewlett-Packard is near a deal to buy Electronic Data Systems for $12-13 billion, the Wall Street Journal reports, an acquisition that would make it more competitive in the services sector with rival IBM. Confirmation was expected soon (HP admitted “advanced discussions” were underway), even as the tech consulting and outsourcing company, valued at $9.5 billion, saw its stock soar on the news.

 

Source Wall Street Journal

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The EDS headquarters visitors entrance sign is seen in Plano, Texas.   (AP Photo/LM Otero, file)
Hewlett Packard CEO Mark Hurd smiles.   (AP Photo/Paul Sakuma)
Hewlett-Packard Co. CEO Mark Hurd.   (AP Photo/Paul Sakuma)
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