22 minutes ago NEW YORK (Reuters) - Hewlett-Packard Co (HPQ.N) is in talks to buy technology outsourcing company Electronic Data Systems Corp (EDS.N) for $12 billion to $13 billion, seeking to better compete with the top computer services company, IBM.The acquisition would be HP's biggest since its $19 billion acquisition of Compaq in 2002. News of the talks, first reported by the Wall Street Journal, sent shares of EDS soaring nearly 28 percent, taking its market value to about $12 billion.
HP shares fell nearly 5 percent amid some skepticism that slow-growing EDS would provide more than a one-time boost, and might not be worth a premium of as much as 37 percent.
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