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HP-Compaq: A fight to the finish

If the HP deal succeeds, analysts expect a lot of Compaq tech to survive. Also, influential adviser ISS gives the proposed corporate marriage a thumbs-up; so does the FTC.

Hewlett-Packard's proposed acquisition of Compaq Computer is on its way to a shareholder vote. If the HP deal succeeds, analysts expect a lot of Compaq tech to survive. CEO Carly Fiorina's received a series of good omens of late, but she knows the fight's not over.
Complete radio interview (40 min.)

On her role: HP "needed to change"

On merger: "Biggest risk is execution"

On products: Expect "bundles" of consumer tech

On morale: "Need to put this fight behind us"

On Hewlett: Feud "distracts" from merger choice

On merger politics: Episode "difficult, regrettable"

On services: Growth through "small, tactical moves"

On compensation: Hewlett "misled shareholders"

On the economy: IT budgets "very supressed"

On Compaq: CEO Capellas "on the same page"

If HP-Compaq OK'd, which products stay?
The name on the chassis will be Hewlett-Packard, but many of the computers coming from HP in the future will likely bear Compaq Computer bloodlines--if the merger goes through.
March 8, 2002 
Pension fund to vote against HP merger
CalPERS, the United States' largest pension fund, says it plans to vote against the proposed merger of Hewlett-Packard and Compaq Computer.
March 8, 2002 
Fiorina: Execution key to success
In an exclusive interview with CNET, HP's CEO says the company will hit the ground running should its mega-merger win investor support this month.
March 7, 2002 
HP and hanging chads?
As in the last U.S. presidential election, the tallying of votes on the proposed merger could stretch well beyond Election Day.
March 6, 2002 
S&P sees risks
Standard & Poor's cuts its ratings on HP's long-term and short-term debt, saying the merger's "execution risks" are significant.
March 7, 2002 
HP shares gyrate
As if questions over the proposed merger aren't enough--the companies' shares are being thrown around by something called arbitrage.
March 6, 2002 
FTC gives the go-ahead
The Federal Trade Commission has voted to approve HP's bid to acquire Compaq without conditions.
March 6, 2002 
Merger gets big boost
The proposed merger receives a much-needed boost when an influential advisory firm recommends that shareholders approve the deal.
March 5, 2002 
Salary issue delays advice
If HP and Compaq had openly discussed executive compensation, ISS, the advisory firm, would have been a bit quicker with its report.
March 5, 2002 
Investors: Still not sure
ISS's recommendation in favor of the HP-Compaq merger draws a lukewarm response from investors and a cautious outlook from Wall Street.
March 5, 2002 
Excerpts from the ISS report
The recommendation has long been considered crucial to the passage of the hotly contested $22 billion merger. Read portions of the report here.
March 5, 2002 

previous coverage
HP-Compaq: Dumb and dumber
Tech industry veteran John Dickinson writes that the HP-Compaq food fight obscures the deeper challenges of the merger.
March 5, 2002 
Customers weigh in
A survey shows that corporate customers are narrowly in favor of the merger of the companies, although many are undecided.
March 4, 2002 
Weighing the proxy vote
Although some money managers are waiting for a key report to decide their vote, some smaller firms say their minds are made up.
March 4, 2002 

special reports and news.context
Big iron: HP to buy Compaq
Analysts say HP faces a rocky road, as it works to survive while combining Compaq business units that are quite similar to its own.
September 5, 2001 
Fiorina: All or nothing at all
vision series There is no turning back for Carly Fiorina, and she's in no mood to talk about "what-ifs."
January 17, 2002 
Opening up about HP
newsmaker Amid an escalating war of words with Hewlett-Packard's board, Walter Hewlett tells the inside story behind his opposition.
February 14, 2002