Hewlett-Packard, Hewlett-Packard says Compaq merger approved by shareholders

Manufacturing News, Source : TheManufacturer.com
Published : 18 Apr 2002 10:05

Hewlett-Packard shareholders have backed its proposed merger with Compaq.

HP said a preliminary tally of the votes taken from last month's shareholders' meeting shows the merger was backed by a margin of around 45 million shares.

But opposing board member Walter Hewlett said such a margin is "extremely narrow", and that his court case aimed at scrapping the merger must be heard first before any outcome is determined.

Hewlett-Packard admitted that they were preliminary results but added that other shareholders voted for the merger by a margin of roughly two to one. Chairman and chief executive officer Carly Fiorina said: "We are gratified the preliminary vote tally validates that Hewlett-Packard shareowners voted the majority of their shares in support of the merger. We are eager to put this difficult period behind us and look forward to doing business as the new Hewlett-Packard."

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