Back to Index

HP/Compaq imbroglio

Here is the latest on the HP/Compaq compact: "DEUTSCHE BANK DEFENDS VOTE ON HP DEAL Deutsche Bank says it was not coerced to vote in favor of Hewlett-Packard's proposed acquisition of Compaq Computer. "The decision was made by Deutsche Asset Management's proxy committee who exercised its independent judgment solely in the interest of its clients," said Deutsche Bank in a statement. The firm's decision at the last minute to switch its vote to support the deal is at the heart of a lawsuit filed by merger opponent Walter Hewlett. With some people close to the situation saying that the margin of victory was less than half a percentage point, the Deutsche Bank vote has come under close scrutiny after a leaked voice mail message from HP CEO Carly Fiorina indicated that HP might have take "extraordinary" measures to persuade Deutsche Bank and Northern Trust to back the deal. HP has denied that it acted improperly in any way and has cited its "long-standing relationships with Deutsch Bank." The company also says it's optimistic that the merger will close on schedule in the next few weeks. (Financial Times 16 Apr 2002)" -

Ronald Hilton - 4/16/02