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Technology Stocks : HWP -- Hewlett Packard -- Ignore unavailable to you. Want to Upgrade?

To: Reseller who wrote (3833)	12/13/2001 11:59:59 PM
From: Reseller	Read Replies (2) \| Respond to of 4722

Hackborn has said Hewlett-Packard's board and management will resign if the acquisition isn't approved by shareholders. quote.bloomberg.com Boise, Idaho, Dec. 13 (Bloomberg) -- Hewlett-Packard Co. director and former chairman Richard Hackborn resigned from the Hewlett Foundation's board, citing the company founders' heirs opposition to the proposed purchase of Compaq Computer Corp. ``Walter Hewlett's decision to wage an ill-advised proxy fight opposing HP's merger with Compaq deeply conflicts with my and the HP board's belief that the merger represents the very best way to deliver the value and growth HP's shareowners, customers and employees deserve,'' Hackborn said in a statement from Boise, Idaho, where he lives. The Hewlett Foundation, which owns 1.6 percent of Hewlett- Packard's shares, last month said it will vote against the Compaq deal. All of the children of the founders of Hewlett-Packard and their foundations oppose the acquisition. Altogether, they control about 18 percent of the company' shares. Shares of Palo Alto, California-based Hewlett-Packard fell 67 cents to $21.14 in late morning trading while shares of Houston- based Compaq fell 22 cents to $9.57. Hackborn said Hewlett-Packard has ``a plan that works.'' ``I have seen no plan from the heirs,'' said Hackborn. ``Their opposition does not address any of the issues or opportunities of this company. Our plan secures HP's future. Standing still does not serve shareowners or employees.'' Hackborn has said Hewlett-Packard's board and management will resign if the acquisition isn't approved by shareholders. Boise, Idaho, Dec. 13 (Bloomberg) -- Hewlett-Packard Co. director and former chairman Richard Hackborn resigned from the Hewlett Foundation's board, citing the company founders' heirs opposition to the proposed purchase of Compaq Computer Corp. ``Walter Hewlett's decision to wage an ill-advised proxy fight opposing HP's merger with Compaq deeply conflicts with my and the HP board's belief that the merger represents the very best way to deliver the value and growth HP's shareowners, customers and employees deserve,'' Hackborn said in a statement from Boise, Idaho, where he lives. The Hewlett Foundation, which owns 1.6 percent of Hewlett- Packard's shares, last month said it will vote against the Compaq deal. All of the children of the founders of Hewlett-Packard and their foundations oppose the acquisition. Altogether, they control about 18 percent of the company' shares. Shares of Palo Alto, California-based Hewlett-Packard fell 67 cents to $21.14 in late morning trading while shares of Houston- based Compaq fell 22 cents to $9.57. Hackborn said Hewlett-Packard has ``a plan that works.'' ``I have seen no plan from the heirs,'' said Hackborn. ``Their opposition does not address any of the issues or opportunities of this company. Our plan secures HP's future. Standing still does not serve shareowners or employees.'' Hackborn has said Hewlett-Packard's board and management will resign if the acquisition isn't approved by shareholders.