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GM plans to sell off EDS

Published on .

General Motors Corp. said it will pursue a split-off of its wholly ownedsubsidiary, Electronic Data Systems, to its GM Class E shareholders in atax-free exchange of stock. The plan, subject to a vote by holders of GM commonstocks, would make EDS an independent, public company. EDS Chairman LesAlberthal said that a rapidly changing competitive landscape has demonstratedthe fact that EDS' strategic objectives are best attained as an independentcompany.

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