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

To: Elwood P. Dowd who wrote (96505)	3/22/2002 4:57:33 PM
From: Elwood P. Dowd	Respond to of 97611

Hewlett-Packard's Compaq Bid Costly for by: iamlongcpq 03/22/02 04:53 pm Msg: 278701 of 278701 Hewlett-Packard's Compaq Bid Costly for Fiorina, Magazine Says By Todd J. Shriber Palo Alto, California, March 22 (Bloomberg) -- Hewlett- Packard Co.'s proposed acquisition of Compaq Computer Corp., if approved, will test Hewlett-Packard Chief Executive Officer Carly Fiorina's ability to lead in many ways, Business Week said. Fiorina will have to make peace with critics inside the company and gain the confidence of investors who have lost money, the magazine said. Hewlett-Packard has spent $150 million in purchase-related expenses to get the transaction approved, according to filings with the Securities and Exchange Commission. Votes from Hewlett-Packard shareholders are still being counted and if the count lasts until the end of the company's fiscal second quarter, which ends April 30, earnings could be affected, Business Week said. Walter Hewlett, son of one of the company's founders, may not be renominated to the company's board because of his opposition to the purchase, the magazine said. Unidentified sources close to the situation say that Fiorina promised business to Deutsche Bank AG's Deutsche Asset Management in exchange for voting in favor of the acquisition, the magazine said. (Business Week Interactive Edition 4-1) (For Business Week's Web site on Bloomberg, see {WBWK }.