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BtoB

Walter Hewlett sues to stop HP-Compaq merger

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New York--Walter Hewlett, son of the founder of computer maker Hewlett Packard Co., who led the proxy fight against its proposed purchase of Compaq Computer Corp., on Thursday filed a lawsuit to try to block the deal. Hewlett, a member of the HP board, issued a statement saying the suit "raises issues about the process by which Hewlett-Packard solicited votes for the approval of the proposed merger with Compaq Computer Corp.-- particularly from large institutional stockholders including Deutsche Bank.'' The proposed $21 billion deal still needs the approval of regulators, but HP executives claimed last week that they had won the support of a "slim but sufficient" majority of shareholders for the deal.
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