Hewlett-Packard, Compaq merger may not be in shareholders best interests
LONDON, Dec 06, 2001 (AFX-UK via COMTEX) -- Institutional Shareholder Services,
the leading provider of proxy voting and corporate governance services,
suggested that Hewlett-Packard Co's 24.5 mln usd takeover of Compaq Computer
Corp as currently structured, may not be in the best interests of all
shareholders, the Financial Times reported.
According to ISS's vice-president, Richard Ferlauto, "It's not clear where the
value is coming from."
"It is a tough deal to support right now, but we're taking a wait-and-see
attitude because we are not sure we've seen the final terms of the deal," he
told the FT.
He said ISS will not make a final decision until the David and Lucile Packard
Foundation, which owns 10 pct of HP, has clarified its position on the deal.
HP was unavailable for comment.
kl/jkm/ NNN
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