Compaq Message Board - Msg: 17404929

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Technology Stocks : Compaq

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To: PCSS who wrote (97471)	4/30/2002 4:48:05 PM
From: Lynn	of 97611

Judge rules in favor of HP on Compaq deal vote WILMINGTON, Delaware, April 30 (Reuters) - A Delaware court on Tuesday ruled in favor of Hewlett-Packard Co. (NYSE:HWP - news) and against dissident shareholder Walter Hewlett, clearing the path for HP's purchase of No. 2 personal computer maker Compaq Computer Corp. (NYSE:CPQ - news). Delaware Chancery Court Judge William Chandler upheld HP's March 19 shareholder vote on what will be the largest technology deal ever. The judge said Walter Hewlett had failed to meet the burden of proof on both points in the lawsuit he filed against Palo Alto, California-based HP. Hewlett alleged that HP had coerced a large shareholder, Deutsche Bank, by threatening to withdraw future investment banking business with HP. Hewlett also alleged that HP had failed to disclose to investors additional financial information that painted a less favorable picture of the two company's integration progress. biz.yahoo.com

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