Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers E > Headlines for Electronic Data Systems Corp. > News item |
Electronic Data Systems shareholders to decide merger with Hewlett-Packard on July 31
By Lisa Kerner
Charlotte, N.C., June 18 - Electronic Data Systems Corp. will hold a special meeting of shareholders on July 31 at 10:30 a.m. ET to approve the company's merger with Hewlett-Packard Co. and Hawk Merger Corp.
The record date for the meeting is June 24, according to an Electronic Data Systems news release.
As already reported, Hewlett-Packard entered into a definitive agreement to purchase Electronic Data Systems for $25 per share, or approximately $13.9 billion.
The Intermountain Ironworkers Trust Fund filed suit in Collin County, Texas, to stop the sale of Electronic Data Systems to Hewlett-Packard, alleging it was unfair to Electronic Data Systems' shareholders and claiming that the company's directors breached their fiduciary duties, according to a statement released by Baron & Budd, PC, the law firm representing the trust fund.
Baron & Budd noted that the agreement does not allow Electronic Data Systems to seek higher alternative bids.
Hewlett-Packard said it will establish a new business group, to be branded Electronic Data Systems - an HP company, based in Plano, Texas, and led by Electronic Data Systems chairman, president and chief executive officer Ronald A. Rittenmeyer.
Electronic Data Systems is a technology services company based in Plano, Texas.
Hewlett-Packard is a Palo Alto, Calif., computer, printing and imaging technology company.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.