Hewlett Packard and Compaq set dates to vote on merger
Hewlett Packard has set 19th March as the date on which shareholders are to vote on the company's plan to buy Compaq Computer. Compaq shareholders will have their chance to vote on the following day, 20th March.
Hewlett-Packard board member Walter Hewlett, son of founder Bill Hewlett has been strongly advocating that shareholders vote against the deal.
He says that the company is in good shape and it would not be beneficial to increase its exposure to the troubled PC business.
CEO Carly Fiorina says that the company has enough support from institutional investors for the merger to be approved.
Following the announcement of the dates for the votes, shares in both companies fell on the New York stock exchange.
