HP/Compaq merger decision in March?

Hewlett-Packard has announced that a shareholder meeting to vote on the company's proposed merger with Compaq will take place on 19 March 2002.

HP shareholders will be allowed to vote on the deal during the meeting, according to an HP statement.

The meeting will be closely watched as Hewlett and Packard family heirs have said they plan to vote against the merger. The families and related organisations control close to 18% of HP stock. A number of large institutional investors, however, have said they are optimistic about the deal and plan to vote in favour of the merger.

Compaq has also announced that it will hold a shareholders' meeting during which there will be a merger vote, this time one day after HP's.

The European Commission has approved the deal, as have Canadian regulators. The two companies, however, are still awaiting approval from the US Federal Trade Commission.