Compliance August 3, 2003
Compaq Shareholders Back Merger in Landslide Vote
March 20, 2002 (PLANSPONSOR.com) - Shareholders of
Compaq Computer Corp. overwhelmingly approved the proposed
merger with Hewlett Packard Co (HP), according to Compaq
officials.
Reported by Camilla Klein
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.