An Update on Electronic Data Processing

This article is excerpted from a letter to partners of Boyles Asset Management.

The strategic process remains ongoing at Electronic Data Processing. For those following closely, that is the same sentence with which we opened the Q2 update.

A final report on the company’s pension position was just released in mid-October, and we believe that potential buyers now have a critical final due diligence item. It is our belief that the eventual outcome will soon be clear. Fortunately for investors, the final pension report was much more favorable than a preliminary review carried out in early 2017.

We understand that the company would prefer to sell itself in its entirety, but if no transaction occurs, as large shareholders, we believe we will be consulted about a significant capital return and the future path for the business.

The content of this website is not an offer to sell or the solicitation of an offer to buy any security. The content is distributed for informational purposes only and should not be construed as investment advice or a recommendation to sell or buy any security or other investment, or undertake any investment strategy. There are no warranties, expressed or implied, as to the accuracy, completeness, or results obtained from any information set forth on this website. BeyondProxy’s officers, directors, employees, and/or contributing authors may have positions in and may, from time to time, make purchases or sales of the securities or other investments discussed or evaluated herein.