The 'Financial Times' reports that EDS has found a private buyer for its CAD division, UGS PLM Solutions. The price is estimated at US$1.2 billion.
(EDS had planned to sell less than 50%, probably around 20%, of its division through an IPO [initial public offering of shares] in the first half of this year to raise much-needed cash.)
"EDS said it had received 'solid interest' in a private sale and expected to make a decision within a month. It would not say who had expressed the interest or what amount had been offered." More at EDS puts UGS-PLM float plans on hold
Update:
Reuters quotes Jeff Baum, EDS director of investor relations, saying the company would not accept an offer for less than $1.8 billion. "We have some potential buyers who are looking at the business."
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