May 1, 2002 |
Hewlett-Packard Co. scored a major victory in its seven-month struggle to acquire Compaq Computer Corp. on Tuesday when a judge ruled that HP did not mislead shareholders or engage in vote buying to win support. HP's win was sweetened late Tuesday when Walter Hewlett, who challenged the shareholder vote in Delaware's Chancery Court, said he won't appeal the ruling and would drop his challenge of the shareholder vote count.
April 27, 2002 |
Hewlett-Packard Co. shareholders approved a slate of board members that doesn't include Walter Hewlett, the dissident director who waged a proxy fight and sued the computer maker over its planned purchase of rival Compaq Computer Corp. The new board is "exceedingly independent and well-qualified," Chief Executive Carly Fiorina told investors at the company's annual meeting in Cupertino, Calif.
April 25, 2002 |
Dissident Hewlett-Packard Co. director Walter Hewlett cast doubts Wednesday on a key HP justification for its planned $19-billion acquisition of Compaq Computer Corp. During testimony at the trial over his suit to block the merger, Hewlett disputed claims by HP Chief Executive Carly Fiorina that managers intentionally low-balled the potential benefits of the combined company.
April 18, 2002 |
Hewlett-Packard Co. inched closer Wednesday to finalizing its controversial $19-billion bid to acquire Compaq Computer Corp. after it announced that 51.4% of voting shareholders cast their ballots in favor of the deal. According to a preliminary tally of proxy votes, 837.9 million shares voted in favor of the merger and 792.6 million voted against it. An "insignificant number" of votes remain to be counted, but not enough to sway the deal, HP said.
April 3, 2002 |
Hewlett-Packard Co. will ask a judge to dismiss a suit filed by company director Walter Hewlett, who alleges vote-buying in a planned $19.4-billion buyout of Compaq Computer Corp. Judge William Chandler III of Delaware Chancery Court told lawyers that he will hear the company's arguments and Walter Hewlett's counterclaims beginning at 9:30 a.m. Sunday in Wilmington, Del.
April 2, 2002 |
Hewlett-Packard Co. withdrew its nomination of Walter Hewlett from its slate of directors Monday, effectively ousting the dissident board member who crusaded against the company's pending $19-billion merger with Compaq Computer Corp. It's the latest volley in an extraordinary battle between HP and the son of co-founder William Hewlett. Walter Hewlett, 57, amassed broad support among shareholders in opposing the merger.