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May.13
3:07 PM ET
Tuesday, 13 May 2008
HP Shareholders Feeling EDS Deal May Be Too Expensive
Posted By:Bob Pisani
Companies:Electronic Data Systems Corp | Hewlett-Packard Co
Want to know how frustrated Hewlett-Packard [HPQ
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()
] shareholders are today? Here's a couple stats:
Market cap yesterday: $123 b
Today: $107 b
Loss: $16 b
Now, here's the killer stat: they are buying EDS for $13.9 billion! Hewlett is now down more in market cap than they are paying for EDS [EDS
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()
] ! The only good news is that since I reported this at 1 pm ET, Hewlett has come off its lows, now trading at $44.00, so it's market cap is up to $108 b.
Importantly, no one has complained that this is a bad deal, only that they may have overpaid for it.
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