HP and Compaq merger still on

HP and Compaq merger still on

Chief executives at Hewlett Packard and Compaq have told employees by email that they have no intention of giving up on the controversial merger.

HP chief executive Carly Fiorina said that she expects ‘the storm to intensify’ over the company’s bid to buy Compaq, and urged employees to deliver consistent results and stay positive about the merger.

Compaq chief executive Michael Capellas said that the $23bn (Pounds 16bn)deal would help turn Compaq into a strong technology company. However, he also suggested that there are alternatives for the firm.

In his email Capellas reiterated his company’s commitment to the merger, but said: ‘Whether we are part of the new HP or a standalone company, I am confident in our ability to achieve these objectives.

‘The best thing we can do right now is to maintain our positive momentum in the market. That means continuing to focus on meeting and exceeding our goals for the fourth quarter.’

According to filings made to the Securities and Exchange Commissions this week, Fiorina acknowledged the company’s disappointment with Friday’s decision by the David and Lucile Packard Foundation to vote against the merger.

But Fiorina pointed out that the HP families and their foundations control only 18% of HP stock. ‘Rest assured that we do not intend to give up, and that we will continue our efforts to return this company to greatness,’ she said.

Links

Packard son joins Hewletts in merger fight

HP/Compaq merger ‘just the beginning’

Whitepaper

The Future of Finance is in the CFO's Hands

Business The Future of Finance is in the CFO's Hands

2m
Save a Week a Month Consolidating Accounts

Accounting Software Save a Week a Month Consolidating Accounts

3m
Mitigating Risk Through Internal Control

Legal Mitigating Risk Through Internal Control

3m
Could tax season have run more efficiently?

Corporate Tax Could tax season have run more efficiently?

4m

Related Articles

“Businesses are better with an accountant”

Accounting Software “Businesses are better with an accountant”

3w Beth McLoughlin, Managing Editor
Chatbots and the AI-assisted audit revolution

Accounting Software Chatbots and the AI-assisted audit revolution

1m Tim Deeson, CEO & Founder GreenShoot Labs
Keeping ahead of Making Tax Digital: Bookkeeping Software for 2019

Accounting Software Keeping ahead of Making Tax Digital: Bookkeeping Software for 2019

5m Chrissy Chiu
How technology is changing the face of accounting

Accounting Software How technology is changing the face of accounting

7m Beth McLoughlin, Managing Editor
The impact of late payments on small businesses

Accounting Software The impact of late payments on small businesses

7m Beth McLoughlin, Managing Editor
Where do AI and Blockchain fall in the future of accountancy?

Accounting Software Where do AI and Blockchain fall in the future of accountancy?

8m Lucy Skoulding, Reporter
An outline of cloud accounting software

Accounting Software An outline of cloud accounting software

8m Emanuela Hawker, Reporter
5 key tech innovations helping accountants transform their businesses

Accounting Software 5 key tech innovations helping accountants transform their businesses

1y Heather Darnell, Founder of Ask the BOSS