EDS, Hewlett-Packard deal price at issue in court hearing
11:21 PM CDT on Tuesday, July 22, 2008
Collin County District Judge Greg Brewer is scheduled to hear arguments Thursday from attorneys representing Electronic Data Systems shareholders who want to stop the proposed merger with Hewlett-Packard Co.
The attorneys, lead by a San Diego firm, argue that Plano-based EDS failed to follow proper procedures during the merger talks and that the form sent to shareholders for a vote was "deficient."
The attorneys argue that EDS' improving performance warranted a better price than H-P's $13.9 billion cash offer.
EDS' annual meeting is scheduled for July 31; the attorneys seek an injunction to prevent the deal's approval at the meeting.
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