Business
Hewlett to directors: Give up on HP-Compaq
Walter Hewlett continued his assault on the rationale behind the Hewlett-Packard merger with Compaq Computer, saying in a letter to the boards of both companies that the "unhappiness" about the transaction goes far beyond what is publicly stated. Hewlett's letter, which was disclosed Thursday in a filing with the Securities and Exchange Commission, urges the boards of both companies to agree to a "speedy, mutual unwinding" of the deal.
Walter Hewlett continued his assault on the rationale behind the Hewlett-Packard merger with Compaq Computer, saying in a letter to the boards of both companies that the "unhappiness" about the transaction goes far beyond what is publicly stated.
Hewlett's letter, which was disclosed Thursday in a filing with the Securities and Exchange Commission, urges the boards of both companies to agree to a "speedy, mutual unwinding" of the deal.
"The handwriting is on the wall and it is clear," Hewlett said in the letter, which was dated Wednesday. "If the merger is brought forward for a vote, there is a very high probability that it will be defeated." --Larry Dignan, Special to ZDNet News