Feeds

HPaQ timetables merger vote

The ides of March

  • alert
  • submit to reddit

Choosing a cloud hosting partner with confidence

Hewlett-Packard has set March 19 as the day for shareholders to vote on the Compaq takeover. Their counterparts at Compaq make their marks the following day.

This gives the HP board a useful few weeks to get the Big Mo going, more time to mop up stragglers in its proxy toe-to-toe with Walter Hewlett, son of a founder, leader of the HP naysayers and dissident director who never listens to what's going on at the few board meetings he intends, any way.

For now, the mudslinging against Hewlett Jr, appears to have stopped. In the coming month we can expect a relentless flow of good news from HP: for instance this week, the company said that Q1 sales would be much better than analysts had expected, fuelled by an upturn in sales of PCs (Hewlett Jr is not a fan of low-margin PC commodity business you recall). But how do analysts expect - surely, they receive some guidance from the companies they follow?

Next up, we expect, a crop of HP's major shareholders and customers to announce their support for the deal - at judiciously-spaced intervals of course. A pro-merger user survey or three wouldn't come amiss either.

And all the while, cheerleader-in-chief Princess Fiorina will express relentless optimism. This is what's she's paid for, handsomely.

Fiorina's performance on the hustings has earned her a rebuke from her courteous opponent. Yesterday, Hewlett Jr. accused the HP CEO of making a "clearly false statement" for predicting the outcome of the Compaq vote.

"Ms. Fiorina's statement appears to be a clear violation of the Securities and Exchange Commission rules. Based upon information available to us, Fiorina's statement is clearly false. We are meeting with investors and what we are hearing is clearly contrary to her assertions. Given the significant volume of negative public statements from industry experts, the widespread unhappiness communicated to us by institutional investors, as well as the intention to vote in opposition by Walter B. Hewlett, Eleanor Hewlett Gimon, Mary Hewlett Jaffe, The William R. Hewlett Revocable Trust, The William and Flora Hewlett Foundation and The David and Lucile Packard Foundation, we believe that HP's statement could only be motivated by an intention to mislead the market."

It's getting very interesting: when the Hewlett and Packard camps, holders of 18 per cent of HP, announced their opposition in January to the takeover, it seemed it was all over bar the fighting.

Slowly, perception is changing, although this is not so surprising, considering the massive disparity of resources at the disposal of the two camps. We can't call it - is anyone conducting a shareholder poll out there? ®

Choosing a cloud hosting partner with confidence

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Big Content outs piracy hotbeds: São Paulo, Beijing ... TORONTO?
MPAA calls Canadians a bunch of bootlegging movie thieves
Google Glassholes are UNDATEABLE – HP exec
You need an emotional connection, says touchy-feely MD... We can do that
Just don't blame Bono! Apple iTunes music sales PLUMMET
Cupertino revenue hit by cheapo downloads, says report
US court SHUTS DOWN 'scammers posing as Microsoft, Facebook support staff'
Netizens allegedly duped into paying for bogus tech advice
Feds seek potential 'second Snowden' gov doc leaker – report
Hang on, Ed wasn't here when we compiled THIS document
Verizon bankrolls tech news site, bans tech's biggest stories
No agenda here. Just don't ever mention Net neutrality or spying, ok?
prev story

Whitepapers

Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
New hybrid storage solutions
Tackling data challenges through emerging hybrid storage solutions that enable optimum database performance whilst managing costs and increasingly large data stores.
Security and trust: The backbone of doing business over the internet
Explores the current state of website security and the contributions Symantec is making to help organizations protect critical data and build trust with customers.