Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Night Writer who wrote (96380)	3/20/2002 10:57:55 AM
From: Night Writer	Read Replies (1) \| Respond to of 97611

Hewlett-Packard: HP believes shareowners have approved merger with Compaq PALO ALTO, Calif., Mar 20, 2002 (M2 PRESSWIRE via COMTEX) -- The board of directors of Hewlett-Packard Company (NYSE:HWP) today announced that based on a preliminary estimate of shareowner proxies by its proxy solicitor, it believes it has received sufficient votes to approve HP's merger with Compaq Computer Corporation (NYSE:CPQ). The company acknowledged, however, that this is not an official vote. Official certification of the voting results by the independent inspectors of election, IVS Associates, is expected in the next few weeks, at which time the certified results will be announced promptly. "We are gratified that HP shareowners recognize the compelling strategic and economic benefits of the merger and that a decisive majority of shares not affiliated with the Hewlett and Packard families and foundations appear to have been voted in favor of this transaction," said Carly Fiorina, HP chairman and chief executive officer. "This board remains committed to building sustainable shareowner value. We believe that with this endorsement from our shareowners, HP has an historic opportunity to lead in a rapidly evolving industry and build upon our proud history of innovation and invention. "We are thankful for the support we've received from our shareowners, employees and customers during this difficult proxy fight. The intense debate throughout this contest has raised important issues and prepared us even more fully for the integration and marketplace challenges that lie ahead. It's now time for all of us -- those who supported the merger and those who opposed it -- to pull together for the benefit of the company. "We look forward to Compaq's shareowner vote tomorrow and the official certification, and we expect to complete the merger soon after the vote is certified -- allowing us to quickly begin execution of the comprehensive integration plans we have been preparing for many months. Today's vote is the beginning of the process of building an even greater HP. We have much work to do, but we are energized and confident as we move to capitalize on the potential of this combination." About HP