approximate value (20-minute delay): buyout. Will Have #1 Worldwide Positions In Servers, PCs and Hand-helds, and Imaging and Printing; Leading Positions In IT Services, Storage, Management Software In 2002, Compaq signed a merger agreement with Hewlett-Packard for $24.2 billion, including $14.45 billion for goodwill, where each Compaq share would be exchanged for 0.6325 of a Hewlett-Packard share.
HP outsources 100 percent of its manufacturing. Hewlett-Packard Company (NYSE: HWP) and Compaq Computer Corporation (NYSE: CPQ) announced today a definitive merger agreement to create an $87 billion global technology leader. HP, Carleton S. Fiorina, HP's Chairman of the Board and Chief Executive Officer, Robert P. Wayman, HP's Executive Vice President and Chief Financial Officer, and certain of HP's other executive officers and directors may be deemed to be participants in the solicitation of proxies from the stockholders of HP and Compaq in favor of the Merger. fluctuations in the stock, the value of the deal may change. By purchasing a smaller PC company, a larger company is mostly acquiring only the customer base. Acquisition by Hewlett-Packard. More information about HP Inc. is available at Will Offer Businesses And Consumers Most Complete Set Of Products And Services, With Commitment To Open Systems And Architectures Capellas and Fiorina were both named as CEOs of their respective companies in July 1999, first Although Capellas and Fiorina have been working independently to revamp their respective companies to get more revenue from services amid slowing hardware sales, the two have collaborated on occasion. Hewlett-Packard Company (NYSE: HWP) and Compaq Computer Corporation (NYSE: CPQ) announced today a definitive merger agreement to create an $87 billion global technology leader. No. Because the companies have different fiscal year-ends, these estimates do not track a matching time period. We are committed to achieving the synergies we have identified while maintaining our competitive position and momentum in the marketplace. Though their backgrounds are vastly different, Fiorina and Capellas have been on similar tracks of late. The combined company will be organized around four operating units: an imaging and printing group led by Vyomesh Joshi, now president of imaging and printing systems for HP; an access business led by Duane Zitzner, now president of computing systems for HP; an information-technology infrastructure business led by Peter Blackmore, currently executive vice president of sales and services for Compaq; and a services business headed by Ann Livermore, now president of HP services. In May 2000, Compaq, HP and other companies announced a project to Hewlett-Packard plans to buy Compaq Computer in a stock swap worth about $25 billion, creating a technology company second in revenue only to IBM. In sharp contrast to our competitors, we are committed to leading the industry to open, market-unifying architectures and interoperability, which reduce complexity and cost for our customers. Companies Expect Annual Cost Synergies Of Approximately $2.5 Billion; Transaction Expected To Be Substantially Accretive In Year One HP shareholders will own 64 percent and Compaq shareholders will own 36 percent of the combined company. In a In January, Bear Stearns analyst Andrew Neff raised eyebrows when he issued a blunt "If there is a soft spot, it's at the high end with the Tandem (servers)," he said.
HP and Compaq expect to see "synergies" of $2.4 billion by fiscal 2004, with about three-quarters of that figure coming from layoffs and the remainder coming from logistical improvements. Based on both companies' last four reported fiscal quarters, the new Carly Fiorina, chairman and chief executive officer of "This is a decisive move that accelerates our strategy and positions us to win by offering even greater value to our customers and partners," said Fiorina.
"It's not a deal-killer," he said.
Compaq has been trying to move to a build-to-order manufacturing model for several years. HP Chairman and Chief Executive Carleton "Carly" Fiorina will be CEO of the combined company, to be called HP. "We're being realistic." February 2002: Hewlett-Packard Co. (HP) announces that shareholders will vote on its proposed acquisition of Compaq Computer Corp. on March 19 at a meeting in Cupertino, California.
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