`` There can be no assurances that an agreement will be reached or that a transaction will be consummated , '' HP said in a statement .
consummated
`` assurance agreement reach transaction consummate hp say statement
`` There can be no assurances that an agreement will be reached or that a transaction will be <m> consummated </m> , '' HP said in a statement .
HP and EDS combined would be about the same size as IBM Global Services .
Industry sources have confirmed to eWEEK that Hewlett-Packard will acquire Electronic Data Systems for about $ 13 billion .
The announcement may come as early as May 14 , the source told eWEEK .
HP acknowledged the news first earlier May 12 .
`` There can be no assurances that an agreement will be reached or that a transaction will be <m> consummated </m> , '' HP said in a statement .
`` HP does not intend to comment further until an agreement is reached or discussions are terminated . ''
EDS 's response came about an hour later , also in the form of a statement .
In response to market rumors , Electronic Data Systems Corporation announces that it is in advanced discussions regarding a possible business combination transaction with Hewlett-Packard Company .
The company does not intend to comment further unless and until a definitive agreement has been entered into .
There can be no assurance that a definitive agreement will be entered into , `` the EDS statement read .
The impending deal would make the newly merged company worth about $ 22 billion and put it on a level with IBM , the largest IT services company in the world .
EDS is the world leader in outsourced IT services ;
HP provides outsourced services too , but focuses mostly on hardware , software and associated services .