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Technology Stocks : Compaq
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To: Night Writer who wrote (97365)4/25/2002 12:24:28 AM
From: The Duke of URL©  Read Replies (1) of 97611
 
I think that quote you quoted which quotes that other quote is wrong.

I think Robert Wayman testified that the money was for merger intelligence, not for any thing else; ya know some how I think he would be smart enough to cast it in the right light on the stand.

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According to the WSJ, this is what was testified to:

Regarding the alleged coercion of Deutsche Bank, Mr. Wayman acknowledged that he had hired the bank in February to assist with the proxy battle for a $1 million fee and an additional $1 million if the deal with Compaq was completed. Mr. Wayman said he thought that Deutsche supported the Compaq transaction when he hired the bank.

However, Deutsche Asset Management initially voted against the deal. When Mr. Wayman learned of the opposition, he requested a last-minute conference call with Deutsche Asset Management.

Mr. Wayman said he didn't hire Deutsche to win the bank's support, and denied using corporate assets to influence Deutsche. "At no time did I imagine the [commercial] relationship would have anything to do with" the votes, he said.


What really stinks about this has nothing to do with this merger. Two years ago, the republican legislatures voted thru a bill which destroyed Glass Stegal which allows banks to use voting stock to get business.

This is the real tragedy and will far out live this little pimple on the trail of misfeasance.

d.
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