McKINNEY, TEXAS (CN) – Shareholders claim Electronic Data Systems is selling itself too cheaply to Hewlett-Packard. They say the $25 per share buyout offer is “only 0.61 times estimated 2008 revenue and only 4.9 times estimated 2008 EBITDA.”
Among the EDS directors sued are Ray L. Hunt of Dallas and Ernesto Zedillo of Hamden, Conn., apparently the former president of Mexico.
Plaintiffs are represented by Joe Kendall with Provost Umphrey of Dallas. Two other, similar class actions were filed in the same court.