[Am-info] Judge Finds For HP

[Fred A. Miller]

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Judge Finds For HP

A Delaware judge Tuesday cleared the way for Hewlett-Packard to=20
buy Compaq, ruling that opponents failed to prove HP bullied a=20
major shareholder or misled investors in the nasty proxy fight=20
over the fate of the largest merger ever in the tech industry.=20
"The evidence demonstrates that HP's statements concerning the=20
merger were true, complete, and made in good faith," Chancery=20
Court Judge William B. Chandler wrote in his ruling, which=20
followed a three-day trial last week in Wilmington.

Walter Hewlett, son of HP co-founder William Hewlett and the one=20
who filed suit to stop the merger, said in a statement that he=20
was disappointed in the ruling, but had not decided his next=20
step. Hewlett can appeal the ruling to the Delaware Supreme=20
Court. Palo Alto, Calif.-based HP and Houston-based Compaq have=20
said they will begin working together May 7. Analysts who said=20
both companies needed to move ahead against competitors welcome=20
the ruling. "They've gone too far to pull back out," says Rob=20
Enderle, an analyst for Giga Information Group. "Going through=20
with the merger is better than living in this purgatory."=20
- - Antone Gonsalves

For more, read:
Merger Battle Could Make Customers Vanish
http://update.informationweek.com/cgi-bin4/flo?y=3DeG5i0Bce7K0V20Bbfs0AT

HP Says Merger Approved By Slim Margin
http://update.informationweek.com/cgi-bin4/flo?y=3DeG5i0Bce7K0V20BbUq0AA

- --=20
Fred A. Miller
Systems Administrator
Cornell Univ. Press Services
fm@cupserv.org, www.cupserv.org
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