HP's bid for EDS receives US clearance

HP's planned $12.6 billion takeover of IT services giant EDS has cleared its first major hurdle after gaining clearance from a US government antitrust review.

However, the two companies are still waiting for approval from European regulators. EDS will hold a shareholder meeting on 31 July in order to secure shareholder approval for the deal.

Buying EDS, one of the pioneers of the outsourcing of managed computer services, would vault HP to second place in the technology services industry behind IBM Global Services.