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Hewlett trust says HP merger tally can be contested
4/17/2002 5:58:27 PM
PALO ALTO, Calif., April 17 (Reuters) - The trust headed by Hewlett-Packard Co (HWP) dissident director Walter Hewlett, who led opposition to the company's bid to buy Compaq Computer Corp. (CPQ) , on Wednesday said the preliminary tally showing shareholders had approved the deal could be challenged.
Hewlett-Packard said on Wednesday that the initial results showed that shareholders had approved the controversial merger by a 3 percent margin out of 1.63 billion shares voted.
In a statement, the William Hewlett Revocable Trust, which represents the assets of one of HP's co-founders, said that "extremely narrow" decision could still be challenged and a recount demanded before the vote is certified.
A spokesman for Hewlett declined to say specifically whether or when that challenge would be mounted. HP, in its statement, said a recount could be completed in about a week with another day or two to complete the challenge process.
The Hewlett trust is also contesting the close-fought merger vote in a Delaware lawsuit against the company scheduled to begin on April 23. |
