Hewlett-Packard, Compaq lobby EU

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Palo Alto, Calif.--In an optimistic bid to find a more welcoming environment for its proposed Compaq Computer Corp. acquisition, Hewlett-Packard Co. has asked the European Commission to approve the deal. The deal is encountering opposition in the U.S., mostly, from institutional shareholders. EU approval would not alter the progress of the deal in the U.S. HP wants to gain shareholder and regulatory approval as soon as possible and close the deal by next June.
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