Apr 29, 2002 (The West Australian - ABIX via COMTEX) -- The proposed merger of
Hewlett-Packard (HP) Company and Compaq Computer Corporation is the subject of a
court case. HP director, Walter Hewlett, is opposing the merger on the grounds
that HP shareholders and its board were misled about details of the proposed
merger, and that HP CEO, Carly Fiorina, and others coerced major institutional
shareholders, including Deutsche Bank, to support the merger. Chancery Court of
Delaware Chancellor, William Chandler, has ordered final briefs to be submitted
by 3 May 2002, but a decision is not expected for several days afterwards. Legal
experts say HP will almost certainly take the case to the Supreme Court of
Delaware if Chandler finds in Hewlett's favour. |
