Business News

EDS Announces European Commission Approval of Proposed Acquisition by HP and Settlement of Stockholder Litigation

Monday 28. July 2008 - EDS today announced that the European Commission has approved Hewlett-Packard Company's proposed acquisition of EDS without condition.

This follows the previously announced expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 relating to the proposed acquisition without a request for further information by the U.S. Department of Justice or Federal Trade Commission.

EDS also announced today that EDS, HP and the plaintiffs in the five stockholder lawsuits that were commenced following the execution of the definitive acquisition agreement have agreed to settle and dismiss all pending lawsuits concerning the proposed merger, subject to court approval.

EDS has agreed to provide additional information to stockholders through publicly available filings in order to supplement the proxy statement that was previously provided to EDS’ stockholders in connection with the special meeting of stockholders to be held to consider and vote on the transaction with HP. EDS has filed the supplemental disclosure with the Securities and Exchange Commission, and such disclosure may be accessed on the world wide web.

In addition, EDS and HP have confirmed that the closing of the merger will not occur prior to August 18, 2008. Accordingly, the EDS third quarter 2008 dividend of $0.05 per share will be paid on September 10, 2008, to the EDS stockholders of record as of the close of business on August 15, 2008. EDS’ special meeting of its stockholders, to consider and vote on the proposed merger will be held as planned at 9:30 a.m., Central time, on Thursday, July 31, 2008.

The transaction still requires EDS stockholder approval and regulatory clearance from other non-U.S. and non-E.U. jurisdictions and is subject to the satisfaction or waiver of the other closing conditions specified in the merger agreement.