HP Urged to Say Who May Leave if No Merger
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Bloomberg News
Hewlett-Packard Co. needs to give investors information about which board members might quit if the planned Compaq Computer Corp. purchase doesn’t go through, a lawyer for director Walter Hewlett said in a regulatory filing.
HP board member Richard Hackborn, a vocal supporter of the $22.2-billion acquisition and of Chief Executive Carly Fiorina, has said he and other managers will resign if shareholders vote against the deal. Hewlett, son of company co-founder William Hewlett, has said he’ll solicit proxies against the transaction.
Rebeca Robboy, a spokeswoman for Palo Alto-based HP, declined to comment.