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

To: hlpinout who wrote (94395)	12/21/2001 8:35:35 AM
From: hlpinout	Read Replies (1) \| Respond to of 97611

Hewlett-Packard, Compaq Notify Merger to EU Antitrust Unit By Robert McLeod Brussels, Dec. 21 (Bloomberg) -- Hewlett-Packard Co. has formally notified European Commission antitrust regulators of its planned $22.4 billion purchase of rival Compaq Computer Corp., starting the clock on a review that will last at least one month. ``Hewlett Packard and Compaq today announced the notification of the planned merger with the European commission,'' said Elisabeth Schmidt, a spokeswoman for Hewlett-Packard in Switzerland. ``We remain totally committed to the successful conclusion of the merger.'' The commission may block or force changes to mergers between companies with combined global sales of 5 billion euros ($4.5 billion) and European Union sales of 250 million euros each, even if the companies are not part of the 15-nation EU. Earlier today, Hewlett-Packard said Canadian antitrust regulators approved the acquisition of Compaq after finding the transaction won't hinder competition in the computer industry. Hewlett-Packard agreed in September to buy Compaq to bolster its server-computer and services businesses to compete with International Business Machines Corp., the largest seller of computers and related services. Analysts have said they don't expect the U.S. Federal Trade Commission to block the purchase. The commission has one month after receiving notification of proposed mergers and acquisitions to conduct an initial review and determine whether the transactions create or enhance a dominant position. Third parties have 10 days after notification to submit their comments to the commission. Companies may resubmit proposed mergers and acquisitions to the commission under adjusted terms, resetting the initial investigation's one-month clock. The commission clears more than 90 percent of mergers and acquisitions after the initial review. If companies offer concessions to address European Union antitrust concerns during the first three weeks of a probe, the one-month deadline is postponed two weeks. If the concessions aren't sufficient, the commission opens a second-stage investigation, which can take four more months. ----------------------------------------------------------- EU seeks comments on Hewlett-Packard buy of Compaq BRUSSELS (AFX) - The European Commission said it invites comments under its merger regulation about the acquisition by Hewlett-Packard Co of Compaq Computer Corp. Interested parties have 10 days in which to submit their comments to the commission. ed/cmr NNN