-Caveat Lector- from: http://www.infoworld.com/articles/hn/xml/01/12/05/011205hnhewlett.xml Click Here: <A HREF="http://www.infoworld.com/articles/hn/xml/01/12/05/011205hnhewlett.xml";> Hewlett prepares for proxy fight</A> -----
Hewlett prepares for proxy fight By Matt Berger December 5, 2001 12:42 pm PT STOKING THE FLAMES in a mounting shareholder battle to block the proposed merger between Hewlett-Packard and Compaq Computer, Walter B. Hewlett filed papers with the Securities and Exchange Commission Wednesday highlighting the poor financial performance of the two companies since the merger was first announced. In the three months following Aug. 31, the last trading day prior to the merger announcement, Compaq's share price has declined 17.8 percent from $12.35 to $10.15, and HP has seen its stock price fall 5.3 percent from $23.21 to $21.99, the filing said. The combined market value of the companies has been slashed by $6.2 billion. Meanwhile, analyst consensus estimates for earnings-per-share at both companies for the 2002 and 2003 fiscal years have declined significantly, Hewlett noted in his filing. Compared to forecasts prior to Aug. 31, analysts lowered their earnings-per-share estimates for Compaq by 77.3 percent for fiscal 2002 and by 60.2 percent for fiscal 2003. For HP, analysts lowered estimates 17.1 percent for fiscal 2002 and 20 percent for fiscal 2003. Hewlett, son of HP co-founder William Hewlett, is a board member at HP and has opposed the planned merger, once valued at nearly $25 billion. He hired proxy solicitation advisors MacKenzie Partners in November to aid in his opposition. "Mr. Hewlett has been making his case to a number of Hewlett-Packard shareholders that the merger does not make sense," said Charlie Koons, assistant vice president of MacKenzie Partners in New York. "At this point it's just preliminary." The proxy statement's filing date hinges on when HP is going to hold its annual shareholder meeting. The meeting is likely to be at the end of February, Koons said. HP hasn't yet set a date for the meeting. Hewlett -- along with his two siblings, Eleanor Hewlett Gimon and Mary Hewlett Jaffe, and The William R. Hewlett Revocable Trust -- opposes the merger. So does David Packard, the son of company co-founder David Packard. Walter Hewlett is the only party named in the latest SEC filings. Matt Berger is a San Francisco-based correspondent for the IDG News Service, an InfoWorld affiliate. RELATED ARTICLES FTC delves deeper into HP-Compaq merger RELATED SUBJECTS Business News SUBSCRIBE TO: E-mail Newsletters InfoWorld Mobile InfoWorld Magazine Home // News // Article ADVERTISEMENT ------------------------------------------------------------------------ SPONSORED LINKS Secure your servers with 128-bit SSL encryption! Act now and get special low prices on select HP products. Click here for FREE Oracle Portal eKit. Belarc's Intranet PC Management System- White Paper and Demo Sun Fire(TM) V880 server from Sun - Take a tour. SUBSCRIBE E-mail Newsletters InfoWorld Mobile Print Magazine Web-based trainingABOUT INFOWORLD | SITE MAP | EMPLOYMENT | PRIVACY | CONTACT US Copyright 2001 InfoWorld Media Group, Inc. ----- Aloha, He'Ping, Om, Shalom, Salaam. Em Hotep, Peace Be, All My Relations. Omnia Bona Bonis, Adieu, Adios, Aloha. Amen. Roads End <A HREF="http://www.ctrl.org/";>www.ctrl.org</A> DECLARATION & DISCLAIMER ========== CTRL is a discussion & informational exchange list. Proselytizing propagandic screeds are unwelcomed. Substance�not soap-boxing�please! These are sordid matters and 'conspiracy theory'�with its many half-truths, mis- directions and outright frauds�is used politically by different groups with major and minor effects spread throughout the spectrum of time and thought. That being said, CTRLgives no endorsement to the validity of posts, and always suggests to readers; be wary of what you read. CTRL gives no credence to Holocaust denial and nazi's need not apply. Let us please be civil and as always, Caveat Lector. ======================================================================== Archives Available at: http://peach.ease.lsoft.com/archives/ctrl.html <A HREF="http://peach.ease.lsoft.com/archives/ctrl.html";>Archives of [EMAIL PROTECTED]</A> http:[EMAIL PROTECTED]/ <A HREF="http:[EMAIL PROTECTED]/";>ctrl</A> ======================================================================== To subscribe to Conspiracy Theory Research List[CTRL] send email: SUBSCRIBE CTRL [to:] [EMAIL PROTECTED] To UNsubscribe to Conspiracy Theory Research List[CTRL] send email: SIGNOFF CTRL [to:] [EMAIL PROTECTED] Om
