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Technology Stocks : Compaq -- Ignore unavailable to you. Want to Upgrade?

To: The Duke of URL© who wrote (94141)	12/11/2001 3:06:37 PM
From: Elwood P. Dowd	Respond to of 97611

Compaq CEO "absolutely supports" HP deal, has plan 'B' NEW YORK, Dec 11 (Reuters) - Compaq Computer Corp.'s (NYSE:CPQ - news) Chief Executive Michael Capellas said Tuesday he ``absolutely supports'' the company's proposed $23.6 billion merger with Hewlett-Packard Co. (NYSE:HWP - news) despite press reports to the contrary. ``I absolutely support the merger...If anybody is questioning it, let there be no doubt that I am completely behind it,'' Capellas told industry players at Internet World in New York. Critics of the proposed merger have said a deal would weigh down HP with the world's largest personal computer business and dilute the value of its higher-margin printing business. HP's largest shareholders have joined other members of the firm's founding families and said it would vote against the deal, which would be the largest in the computer industry. In a memo to employees obtained by Reuters on Tuesday, however, Capellas said he was confident of the company's strategy whether it was part of the new HP or a stand-alone company. ``Obviously, you would expect us to have a business plan that is ongoing and that is quite frankly what I would call normal responsibility,'' Capellas said at Internet World. ``We have a very clear strategy.''