Hewlett-Packard yesterday announced that the official result from its shareholder vote approves its $18 billion acquisition of Compaq Computer. Holders of 51% of HP’s 1.65 billion shares voted in favour of the deal, holders of 48% voted against it and 1% abstained.
HP expects to close the deal on 3rd May 2002. The launch of the new HP will take place on 7th May 2002.

Earlier this week, the deal’s most vocal opponent, Walter Hewlett, lost a legal battle in which he accused HP’s CEO, Carly Fiorina, of “buying” shareholder votes and of misleading investors by exaggerating the benefits of the deal. After the court’s decision, Hewlett said he would start to “do everything possible to support the successful implementation of HP's acquisition of Compaq.”

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