Feeds

HPaQ timetables merger vote

The ides of March

  • alert
  • submit to reddit

Internet Security Threat Report 2014

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? ®

Top 5 reasons to deploy VMware with Tegile

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
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
YARR! Pirates walk the plank: DMCA magnets sink in Google results
Spaffing copyrighted stuff over the web? No search ranking for you
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
Apple SILENCES Bose, YANKS headphones from stores
The, er, Beats go on after noise-cancelling spat
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.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
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?
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.