Compaq Shareholders Overwhelmingly Approve HP Merger

Although Hewlett-Packard (HP) shareholders appear to have only narrowly approved the company's record-breaking merger with Compaq, Compaq shareholders had no qualms about accepting the offer and approved the merger deal by a 9-to-1 margin. In sharp contrast to the heated battle within HP, Compaq insiders offered no serious opposition to the merger. "Both Compaq and HP have long, proud heritages and, believe me, we are proud of our heritage, but this was about creating the next-generation industry leader," Compaq CEO Michael Capellas told shareholders yesterday.

Over at HP, relations weren't quite so friendly. At a massive shareholders meeting on Tuesday, shareholders booed HP CEO Carly Fiorina and gave merger-opposition-leader Walter B. Hewlett a standing ovation. However, if the preliminary results are correct, Fiorina might soon find herself running one of the world's largest corporations.

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