HP sues over Comdisco gazumping

NEWS HP has said it will object to an $825m acquisition deal between technology equipment leasing firm Comdisco and financial services firm SunGard Data, after its own offer was accepted and then dismissed. After filing for bankruptcy in July, Comdisco accepted a $610m offer from HP for its disaster recovery unit on the condition it did not receive any higher offers. But rival bidder SunGard clinched the deal Friday, after it upped its initial offer of $775m. In a statement, HP called the acquisition anti competitive, and said it supported a Department of Justice investigation into the proposed takeover. The deal is subject to approval from the US Bankruptcy Court, which is due to meet 23 October. HP said it would participate in the hearing, and remained confident that it would be confirmed the successful buyer.