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HP Sets March 19 For Merger Vote

2/06/2002 10:13:00 AM Eastern

New York - Hewlett-Packard has set March 19 for its shareholders to vote on the company's proposed merger with Compaq.

The vote will finally decide whether the Hewlett and Packard families have their way and block the merger or if HP CEO Carly Fiorina managed to convince enough shareholders that combining the companies is a good idea.

Compaq will hold its vote the following day.

Walter Hewlett, son of co-founder Bill Hewlett, has argued that a combined HP/Compaq would be overexposed in the volatile consumer PC market, while Fiorina has stressed that such a company would be perfected situated to sell to the enterprise customer.