The ongoing battle for the sale of Comdisco's disaster recovery business has ended with the company agreeing to sell the unit to Hewlett Packard (HP) for $750m.
But rival SunGard Data Systems said it has not pulled its higher $825m bid. The sale is subject to approval by the bankruptcy court, which is scheduled to meet on 7 November.
Although both HP and SunGard have fought to acquire the disaster recovery unit, the US Department of Justice (DoJ) said it would oppose the SunGard bid on antitrust grounds. The DoJ was not immediately available for comment.
SunGard said the company was working with the DoJ to resolve the issue. "Our position is unchanged and we intend to pursue the transaction," said a spokesperson.
Comdisco entered into an agreement with HP in July to sell the unit for $610m. That agreement was subject to higher offers in an auction process authorised by a court. Following the auction on 11 October, Comdisco approved the $825m SunGard bid.
Three major players - SunGard, Comdisco and IBM - have a combined 80 per cent of the disaster recovery market, according to market research from Gartner.
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