Shareholders Petition Court to Delay EDS/Hewlett-Packard Merger Vote, Announces Baron & Budd,...

msn.com     Jul 22, 2008            

DALLAS, Jul 21, 2008 (BUSINESS WIRE) -- At a hearing scheduled by Collin County District Judge Greg Brewer on July 24, shareholders of Dallas-based Electronic Data Systems (EDS) will be asking the Court to postpone the July 31 shareholder meeting on the proposed sale of the company to Hewlett-Packard pending full disclosure and correction of deficiencies in the agreement, said Randall Baron of Coughlin, Stoia, Geller, Rudman & Robbins, LLP in San Diego. "With increased revenues over the past 12 months and 2008 projections on track, the shareholders are questioning why EDS is accepting what many experts consider to be an undervalued share price," said Baron. The proposed sale locks the price of EDS stock at $25.00 per share, prohibits EDS directors from seeking a higher price from alternative bidders and guarantees... [read full story]                    

FULL COVERAGE