1 Aug 2008

EDS shareholders endorse takeover by Hewlett-Packard

9:15 am on 1 August 2008

Electronic Data Systems shareholders have voted almost unanimously in favour of a $US13.9 billion takeover by Hewlett-Packard.

HP will pay $US25 per share for the Texas-based technology company.

The deal was signed in May, but needed approval by shareholders regulators in the United States and Europe.

The combined company is expected to create a global powerhouse in computer services to compete against IBM.

HP revenue totaled $US110.4 billion for the year ended 30 April, 2008.