Compaq Says Shareholders Approve Hewlett-Packard Deal

The endorsement of management's plan was widely expected, since the Compaq proposal was unopposed at the meeting. In sharp contrast, Hewlett-Packard saw a close and bitter battle between its management and opposing HP shareholders, led by the company's founding families.

HP claims its shareholders approved the deal at a Tuesday vote, although the official count which would seal the deal is not due for weeks.

Sources in the HP camp say they won on Tuesday by a 2 to 3 percent margin, but Hewlett sources calculate the early pro-merger margin at 0.5 percent and argue the official count could end in the deal's rejection.

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