Published in News
HP's buyout of EDS gets thumbs up
Everyone stops suing each other, too
HP's buy out of the controversial outsourcing giant EDS has been given the thumbs up by the European Commission. The deal, where HP stumps up $13.9 billion for EDS is all set to be done and dusted off by August 18. It still has to get EDS shareholder approval.
The European Commission said the deal between the two U.S. companies would not hinder competition on the European market. However, EDS still remains as popular as the Yorkshire Ripper in the U.K., where it has buggered around with some key government contracts and cost the taxpayers billions on projects that don't work. The deal has already gotten the nod from the U.S. regulators.
On the good side, the two sides have agreed to stop suing each other. Well, there hardly seems much point now.