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

To: Lynn who wrote (97174)	4/16/2002 11:26:51 AM
From: Elroy	Respond to of 97611

Interesting that the Deustche Bank press releases says nothing about whether HWP management discussed HWP's business relationships with DB when advocating the merger. If DB had denied that (discussion of what affect the merger would have on the HWP-DB relationship), then there would be absolutely no question about inappropriate lobbying. On the other hand, if in the middle of the presentation HWP management often alluded to the business that they throw DB, then things get sort of in a fishy zone. The question is not whether DB asset management voted their shares in the best interests of their investors (which is what the DB press release says) - rather, the question is whether HWP management inappropriately used the HWP-DB relationship when lobbying DB. DB should come out and state that the HWP-DB relationship was absolutely never discussed when discussing the merger advantages. That's what should be denied. It makes you wonder. I have no idea what was said, but it is certainly feasible that HWP would say one advantage of an HWP-CPQ merger would be that the combined entity would be able to do a larger share of their financing business with one financial institution ("such as DB, wink, wink") and gain greater purchasing leverage, and therefore the merger makes sense for you, DB, and for your HWP-CPQ shareholders. Again, I have no idea if this was ever discussed, but if DB wants to make the situation clean that is what should be denied. IMHO, of course. Elroy