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HP/COMPAQ: Walter Hewlett sues over merger vote

HP/COMPAQ: Walter Hewlett sues over merger vote

Walter Hewlett last week filed suit against Hewlett-Packard, taking issue with the process by which HP solicited votes for approval of its acquisition of Compaq.

The suit was filed in the Delaware Chancery Court by Hewlett and Edwin van Bronkhorst, a fellow trustee of the William R. Hewlett Revocable Trust. The complaint focuses on HP's process for soliciting votes from large institutional stockholders, particularly Deutsche Bank.

Hewlett has requested that the court expedite its proceedings so that the issue can be resolved as quickly as possible. His goal is to ensure the outcome of last week's stockholder vote was determined in a "fair, full and lawful manner", he said.

HP dismissed the lawsuit as without merit. HP management said early indications are that the deal has been approved by shareholders. Compaq shareholders overwhelmingly approved it.


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