Compaq Shareholders Back Merger in Landslide Vote

March 20, 2002 ( - Shareholders of Compaq Computer Corp. overwhelmingly approved the proposed merger with Hewlett Packard Co (HP), according to Compaq officials.

Although a vote count was not immediately available, officials announced that 90% of the company’s shareholders who voted had opted in favor of the $21.4-billion deal, according to a report from Dow Jones

Earlier this week, HP shareholders narrowly voted in favor of the merger in a tally that many considered too close to call.

The proposed merger has been the subject of much discussion of late, with institutional investors, including employee pension funds, announcing their intention to join the fray.