Hewlett-Packard-Compaq Computer Merger A Done Deal
Hewlett-Packard officially closed a $19 billion acquisition of Compaq Computer Friday.
Compaq investors will receive less than one percent of Hewlett-Packard shares for every Compaq share they own. Compaq stock will cease being traded.
The merger ends one of the harshest and closest proxy fights in American business history. The Palo Alto-based H-P will change its ticker symbol from HWP to HPQ to reflect the presence of Compaq. The companies will begin business together Tuesday.
H-P announced its plan to buy Compaq September 3rd. The company overcame fierce opposition from the families of its late founders and won a narrow shareholder vote to complete the merger.