Feeds

Dissenting Hewlett sells HP stock

5pc less clout

  • alert
  • submit to reddit

The Essential Guide to IT Transformation

The Hewlett Foundation, which opposes the proposed Sircam merger with Compaq, has sold 5.5 million shares in HP and an undisclosed number in HP's Agilent division. It leaves the Foundation, controlled by leading merger dissident Walter Hewlett, holding 36.5 million shares. As these are voting shares, Hewlett has less clout than he did before the sale.

But it's a more complex arrangement than first appears: in all, the Foundation will acquire over a hundred million shares from the Hewlett family trust, giving Walter more rather than less board leverage, should he wish to stick around.

"We think this deal is so fundamentally bad that it will be defeated by a huge margin, not a close margin," Hewlett's advisor told the Mercury News. ®

Sircam Merger: Full Coverage

HP to buy Compaq for Battle of the Bulge
HP makes Don Capellas an offer he can't refuse
Princess Fiorina kisses the Ugly Frog
HP/Compaq should corner 26.4% of Euro PC market
Princess Fiorina addresses subjects
Merged HP will send 16,000 staff Paqing
Winners and losers from the HP/Compaq merger
Compaq name to go, will trade as HP
For hire: Compaq's iPaq engineering team
HPaq execs pocket millions in merger payola
HPaQ gets thumbs up from Saudi billionaire Prince
HPaQ must die - major investor
HPaQ UK PC sales plummet in Q3
Q3 is a dog for Compaq

Hewlett family hates Compaq merger (true)
SirCam merger gets personal: Valley aristos send Compaq paq-ing
Get Walter! Hewlett Jr. smeared to save Compaq merger
What feud? HP boss turns on media
Packard family naysays Compaq merger
Sircam merger will ruin us - Hewlett Jr

MemoWatch: HP begs staff to PR Compaq deal

HP-Compaq merger - readers speak their minds
HP / Compaq merger: You the Jury

The Essential Guide to IT Transformation

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Sonos AXES support for Apple's iOS4 and 5
Want to use your iThing? You can't - it's too old
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.