Monday May 12, 09:13 PM
REPEAT: Electronic Data System, Hewlett-Packard shares halted for news pending
Adds Hewlett-Packard ticker tag
NEW YORK (Thomson Financial) - Shares of Electronic Data System Corp. and Hewlett-Packard Co. have been halted for trading in late-afternoon trading Monday for news pending.
Earlier, the Wall Street Journal reported that H-P was in advanced talks regarding an acquisition of EDS for $12 billion to $13 billion. While terms of the deal were not clear, the Journal report said, an announcement was expected as early as Tuesday.
Just prior to the halts, EDS was up 28% at $24.13 on volume of 13.3 million shares, compared with a 30-day average volume of 2.9 million shares.
H-P's stock, a component of the Dow industrials, was down 5.1% at $46.64 on volume of 40 million shares, compared with the 30-day average of 12.3 million shares, just before the halt.
Tomi Kilgore
tk1/tk1
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