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Technology Stocks : Advanced Micro Devices - Moderated (AMD) -- Ignore unavailable to you. Want to Upgrade?

To: Pravin Kamdar who wrote (73438)	3/5/2002 4:07:53 PM
From: Win Smith	Respond to of 275872

Couple stories on HP/CPQ Former Chief of Hewlett Urges Rejection of Merger nytimes.com Hewlett and Compaq Shares Diverge Ahead of Key Report nytimes.com Sanford C. Bernstein analyst Toni Sacconaghi said in a recent research note that the current likelihood of the deal going through is 35 percent. ``We believe that these odds drop to about 10 percent if ISS votes against the deal and improve to 50 percent or more if ISS votes for the deal,'' Sacconaghi wrote . . . Ahead of the ISS announcement, Compaq shares fell 3.19 percent to $10.31 in active trade, while Hewlett-Packard shares rose 1.3 percent to $20.81, both on the New York Stock Exchange. That indicates that Compaq is trading at a 26 percent discount to the implied merger price, a much wider spread than even a month ago, when the difference had narrowed to about 13 percent. Deals viewed as likely to close typically trade in the 8 percent to 10 percent range. That 26 percent spread is much narrower than the more than 50 percent discount Compaq traded at in November after members of the Hewlett and Packard families said they would vote their 18 percent stake against the merger.