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

To: PCSS who wrote (96795)	4/3/2002 8:44:13 PM
From: PCSS	Respond to of 97611

Delaware court sets April 23 date for HP merger case 4/3/2002 8:33:02 PM SAN FRANCISCO, April 3 (Reuters) - The Delaware court asked to force Hewlett-Packard Co. (HWP) to hold a new vote on its nearly $19 billion plan to merge with Compaq Computer Corp. (CPQ) has set an April 23 trial date, a court official said on Wednesday. However the judge, Chancellor William Chandler III of the Delaware Chancery Court, will hear on Sunday a motion by HP to throw out the case, which could be an early end to the legal challenge, said the official, Chandler's law clerk, Robert Anderson. He said the trial had been scheduled for three days, April 23-25, although additional time could be reserved if necessary. Dissident HP board member Walter Hewlett, who fought a 4-month proxy battle and mustered the company's founding families against the deal, which he says would dilute the value of HP's printing franchise and saddle HP with a low-profit personal computer business, has sued to overturn the March 19 shareholder vote. Hewlett says HP coerced shareholder Deutsche Bank into voting for the merger, which would be the largest in computer industry history, and withheld information that merger planning was not meeting expectations. HP says it won approval by a slim margin, although the official count is not expected for weeks, and denies Hewlett's allegations. It also argued in its motion to dismiss the case that, even if proven, the allegations would not constitute a legal basis for throwing out the vote. Chief Executive Carly Fiorina argues that the merger would create a technology powerhouse offering a gamut of products that would let it serve customers' nearly every need and position the company well for technology sector consolidation.

To: PCSS who wrote (96795)	4/3/2002 9:52:34 PM
From: rudedog	Read Replies (1) \| Respond to of 97611

A lot of political appointments IMO, not the kind of thing that excites me. For example, Elias did little when he was in charge of storage before, and little with the big boxes after that. Yet they give him a shot at storage again - surely not a case of the best man for the job but rather the best infighter. I could point to numerous other similar choices. There are a few bright spots, but overall this looks like a replay of the DEC merger, with the strongest political bases getting their guys in, and little attention to who can get the job done.