IP: HP-Compaq news

[David Farber <dave () farber net>]

> Date: Tue, 6 Nov 2001 12:37:09 -0800
> To: farber () cis upenn edu (Dave Farber)
> From: Jim Warren <jwarren () well com>
>
> > The family of HEWLETT-PACKARD CO.'s (18.60, up 1.71 @ 1:40 p.m. EST)
> > late co-founder William Hewlett, along with a foundation in the family's
> > name, will vote its stake, representing about 5% of the company, against
> > the proposed acquisition of COMPAQ COMPUTER CORP. (8.51, down 0.48 @
> > 1:46 p.m. EST), dealing a major blow to the transaction. Walter Hewlett,
> > a director of H-P, and the William R. Hewlett Trust have decided to vote
> > against the transaction because the deal would give H-P more exposure to
> > the low-margin personal computer business and dilute the value of the
> > lucrative printer business. Hewlett said the William and Flora Hewlett
> > Foundation has reached a preliminary conclusion to vote against the
> > merger. Together, the trust, the foundation and the family own more than
> > 100 million shares. [The Wall Street Journal]


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