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Jul 25 2008   1:39PM GMT

HP-EDS acquisition back on track

rivkalittle Rivka Little Profile: rivkalittle

EDS shareholders agreed Thursday to vote on Hewlett-Packard’s (HP) bid to acquire the company, The Dallas Business Journal reported.

Shareholders first asked a judge in a Texas district court to hold off the vote scheduled for July 31 because they said EDS had locked itself into an agreement with HP that undervalued its shares. Shareholders also said the company had not sought other possibly higher bidders.

But then shareholders came to an agreement with EDS, which addressed some of their concerns, according to attorneys. The terms of that agreement have not been disclosed.

This week, European Union regulators approved the HP-EDS acquisition, saying the combination of companies is “unlikely to raise competition concerns.” Of course, that depends on who you ask. The deal already won approval by U.S. regulators, so it looks like its on track for completion. The deal is expected to close by the end of the year.

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