Electronic Data Systems shareholders to decide merger with Hewlett-Packard on July 31

By Lisa Kerner

Charlotte, N.C., June 18 - Electronic Data Systems Corp. will hold a special meeting of shareholders on July 31 at 10:30 a.m. ET to approve the company's merger with Hewlett-Packard Co. and Hawk Merger Corp.

The record date for the meeting is June 24, according to an Electronic Data Systems news release.

As already reported, Hewlett-Packard entered into a definitive agreement to purchase Electronic Data Systems for $25 per share, or approximately $13.9 billion.

The Intermountain Ironworkers Trust Fund filed suit in Collin County, Texas, to stop the sale of Electronic Data Systems to Hewlett-Packard, alleging it was unfair to Electronic Data Systems' shareholders and claiming that the company's directors breached their fiduciary duties, according to a statement released by Baron & Budd, PC, the law firm representing the trust fund.

Baron & Budd noted that the agreement does not allow Electronic Data Systems to seek higher alternative bids.

Hewlett-Packard said it will establish a new business group, to be branded Electronic Data Systems - an HP company, based in Plano, Texas, and led by Electronic Data Systems chairman, president and chief executive officer Ronald A. Rittenmeyer.

Electronic Data Systems is a technology services company based in Plano, Texas.

Hewlett-Packard is a Palo Alto, Calif., computer, printing and imaging technology company.

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