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  Compaq Shareholders Approve HP Merger
Time: 17:34 EST/22:34 GMT | News Source: Reuters | Posted By: Guillaume Hébert

Compaq Computer Corp. shareholders on Wednesday approved Hewlett-Packard Co.'s nearly $20 billion acquisition of the company in a clear victory that could pave the way for the computer industry's largest merger ever. Unlike the contested battle for HP shareholder votes, in which HP claimed a narrow victory but opponents have yet to concede defeat, there was no organized opposition to the merger on the Compaq side. The meeting in a Houston hotel ended in 45 minutes with the vote won by a ratio of 9 to 1. Chief Executive Michael Capellas told shareholders it was a "momentous" day. "Both Compaq and HP have long, proud heritages and, believe me, we are proud of our heritage, but this was about creating the next generation industry leader," Capellas said.

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