HP-Compaq report could be the deciding factor
Published: 04 Mar 2002 07:31 GMT
A firm that advises a number of Hewlett-Packard's large shareholders is set to release a report early this week that for many could be the deciding factor in how they will vote on the proposed Compaq Computer merger.
Institutional Shareholder Services will release the report on Monday or Tuesday, Vice President Pat McGurn said on Friday.
The $21bn merger has been fiercely contested by members of the Hewlett and Packard families. Most recently, Walter Hewlett, who is a company director, released minutes from a board meeting to back up his claims that HP chief executive Carly Fiorina and Compaq chief executive Michael Capellas could get as much as $115m from a proposed compensation package if the deal goes through.
HP's largest shareholder is the David and Lucile Packard Foundation, which has said it would vote against the deal, as have other groups representing the founders' heirs. About 20 percent of HP's institutional shareholders are said to be ISS customers.
Fiorina, meanwhile, has been busy this week trying to sell the deal to Wall Street analysts.
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