US FTC clears Compaq-Digital merger

US FTC clears Compaq-Digital merger

Compaq Computer and Digital Equipment this week announced the US Federal Trade Commission (FTC) has closed its review of Compaq's pending acquisition of Digital and that the waiting period under the Hart-Scott-Rodino Act has expired.

Although taking a step closer to finalising the $US9.6 billion deal announced in January of this year, the two companies still need the approval of holders of two-thirds of Digital's common stock. A special meeting of shareholders will be held on June 11, 1998, in the US.

Subject to the receipt of shareholder approval and satisfaction of other customary conditions, Compaq and Digital currently expect the transaction to close shortly after the special meeting next Thursday (next Friday Australian time), the companies said.

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