Evergreen to vote against HP-Compaq merger
CHARLOTTE, N.C., March 18 (Reuters) - Evergreen Investments, which own 2 million shares of Hewlett-Packard Co. (HWP) or a 0.1 percent stake, on Monday said that will vote against HP's planned $21 billion acquisition of Compaq Computer Corp. (CPQ) , citing concerns about earnings dilution.
Evergreen Investments is the asset management division of Wachovia Corp. (WB) .
"This decision was reached after a full review of the merger plan and other information such as the analysis put forth by Institutional Shareholder Services, and the concerns voiced by dissenting parties," Dennis Ferro, chief investment officer, said in a statement.
Ferro cited concerns about potential dilution of earnings and the challenge of a large corporate integration amid the changing business of technology.
The Hewlett-Packard shareholder vote is set for March 19. It's uncertain which way that vote will go. |
