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Comdisco ditches HP bid for Sungard's $825m

US court decision leaves HP with its bottom lip hanging...

By Sonya Rabbitte

Published: 16 November 2001 15:25 GMT

Comdisco has finalised the sale of its disaster recovery unit to Sungard, after a US court yesterday dismissed an anti-trust claim filed by the Department of Justice.

Sungard Data Systems will pay $825m for the division after outbidding HP earlier this year.

The US circuit court of appeal yesterday threw out a motion by the Department of Justice requesting the purchase be delayed until it appealed against an earlier US district court decision, which ruled in favour of the Sungard bid.

Comdisco has also faced opposition from HP, which last month threatened to sue the company after it accepted Sungard's offer.

Comdisco initially agreed to accept a $610m bid from HP after filing for bankruptcy in July.

HP upped its offer to $750m last month, prompting media reports that it had clinched the deal.

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