Gservo
3rd May 2002, 04:49 PM
Hewlett-Packard Co. today announced that it will complete its $19 billion buyout of Compaq Computer Corp. and that the merged companies will formally launch as the new HP on May 7.
The declaration accompanied the company's announcement that today it has officially been declared the winner of a controversial March 19 HP shareholder vote.
The certification of the vote by proxy counter IVS Associates Inc. comes less than a day after dissident shareholder Walter Hewlett declared he would end his proxy fight to block the deal.
Hewlett halted his bitterly-fought campaign after a Delaware judge dismissed his lawsuit accusing HP of misleading and coercing shareholders to support the buyout.
According to IVS, the final tally was 838,401,376 shares cast in favor of the deal, with 793,094,105 shares voted against the takeover of Houston-based Compaq.
The declaration accompanied the company's announcement that today it has officially been declared the winner of a controversial March 19 HP shareholder vote.
The certification of the vote by proxy counter IVS Associates Inc. comes less than a day after dissident shareholder Walter Hewlett declared he would end his proxy fight to block the deal.
Hewlett halted his bitterly-fought campaign after a Delaware judge dismissed his lawsuit accusing HP of misleading and coercing shareholders to support the buyout.
According to IVS, the final tally was 838,401,376 shares cast in favor of the deal, with 793,094,105 shares voted against the takeover of Houston-based Compaq.