Tuesday, March 5, 2002
Big hurdle cleared - HP and CPQ merger looks on track
Posted by Ed Hansberry in "NEWS" @ 02:54 PM
http://news.moneycentral.msn.com/ticker/article.asp?Symbol=US:HWP&Feed=RTR&Date=20020305&ID=1468191
The Institutional Shareholder Services recommended that its subscribers vote in favor of the Hewlett-Packard/Compaq merger today, just 15 minutes ago. The ISS makes recommendations to over 700 mutual funds and other institutional holders (such as state pension funds) on how to cast their vote on stocks that are merging.
Compaq shareholders are apparently pleased. As of this writing, Compaq is up over 11.5% in after hrs trading from the 4:00pm close. Not so HWP shareholders, who have sold off after hrs trimming about 3.25% off of the 4pm price.
My bet is that the deal will now close, but we'll know for sure March 19. I don't know, and neither does anyone else, what this will mean to the mobile device divisions of each company. I've heard rumors that no matter what the outcome, each company already has a next generation iPAQ/Jornada in the works. Whether the lines will be merged after that or not is anyone's guess.
The Institutional Shareholder Services recommended that its subscribers vote in favor of the Hewlett-Packard/Compaq merger today, just 15 minutes ago. The ISS makes recommendations to over 700 mutual funds and other institutional holders (such as state pension funds) on how to cast their vote on stocks that are merging.
Compaq shareholders are apparently pleased. As of this writing, Compaq is up over 11.5% in after hrs trading from the 4:00pm close. Not so HWP shareholders, who have sold off after hrs trimming about 3.25% off of the 4pm price.
My bet is that the deal will now close, but we'll know for sure March 19. I don't know, and neither does anyone else, what this will mean to the mobile device divisions of each company. I've heard rumors that no matter what the outcome, each company already has a next generation iPAQ/Jornada in the works. Whether the lines will be merged after that or not is anyone's guess.
