Market Talk: H-P & EDS??? (HPQ, EDS)
If you thought big tech mergers were over, there may be another one brewing. Be sure to focus on the term “may”” in that. The WSJ has reported that Hewlett-Packard (NYSE: HPQ) is in advanced talks to acquire Electronic Data Systems Corporation (NYSE: EDS) for between $12 Billion and $13 Billion. CNBC has just now covered this as well.
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H-P is down 2% at $47.94 today, and its market cap is $118 Billion. EDS shares are trading up 25% now at $23.54 and its market cap after this pop is just under $12 Billion; its 52-week trading range is $15.71 to $29.13.
Jon C. Ogg
May 12, 2008