EDS Stockholders Approve Merger with HP
At the special meeting on July 31, 2008, EDS stockholders adopted the Agreement and Plan of Merger among EDS, Hewlett-Packard Company (HP) and Hawk Merger Corporation, pursuant to which EDS will become a wholly-owned subsidiary of HP. Approximately 98.8 percent of the shares of EDS common stock voting on the proposal were voted in favor of the adoption of the Agreement and Plan of Merger, representing approximately 72.4 percent of the issued and outstanding shares of EDS common stock as of the close of business on June 24, 2008, the record date for the special meeting.
EDS currently anticipates that the transaction will close in the third quarter of 2008. As previously disclosed, EDS and HP have agreed that the closing of the transaction will not occur prior to August 18, 2008, without the consent of both parties. In the event HP would otherwise be required to close the transaction prior to August 26, 2008, it has the right to postpone the closing until no later than August 26, 2008, subject to the terms set forth in the Agreement and Plan of Merger.
EDS currently anticipates that the transaction will close in the third quarter of 2008. As previously disclosed, EDS and HP have agreed that the closing of the transaction will not occur prior to August 18, 2008, without the consent of both parties. In the event HP would otherwise be required to close the transaction prior to August 26, 2008, it has the right to postpone the closing until no later than August 26, 2008, subject to the terms set forth in the Agreement and Plan of Merger.