Source: CNN.com
> SAN JOSE, California (AP) -- Hewlett-Packard is buying fellow computer
> maker Compaq Computer for an estimated $25 billion in stock, a deal meant
> to bolster two companies that have been saddled with sagging profits and
> massive job cuts, according to reports.
> The deal would create a computer behemoth that would rival industry leader
> IBM. In its most recent 12 months, Hewlett-Packard reported revenues of
> $47 billion, while Compaq had revenues of $40 billion. That is only
> slightly lesser than IBM's $90 billion.
> The New York Times and Wall Street Journal both reported the deal on their
> Web sites late Monday, citing people close to the negotiations. Spokesmen
> for both companies declined to comment to the newspapers.
> The reported deal comes as the computer industry suffers through a
> downturn that has seen sales shrink considerably. Hewlett and Compaq have
> both seen their stocks suffer drastically in recent months.
> Compaq's stock closed at $12.35 on the New York Stock Exchange on Friday,
> down 76 percent from its peak in early 1999. Hewlett-Packard's stock is
> worth $23.21, down 66 percent from its high last summer.
> When announced job reductions, of 8,500 jobs at Compaq and 9,000 at
> Hewlett-Packard, are completed, employment at the companies will be about
> 62,800 at Compaq and 87,000 at Hewlett-Packard.
http://www.sunbelt-software.com/ntsysadmin_list_charter.htm-----Original Message-----
From: Jim Underwood [mailto:[EMAIL PROTECTED]]
Sent: Tuesday, 4 September 2001 2:36 PM
To: NT System Admin Issues
Subject: HP to Acquire Compaq in $25B DealIn case you haven't heard, HP will announce on Tue 9/4 that they will acquire Compaq in a $25B deal.According to the NY Times, both boards have approved the deal.Here's the story reported by the NY times:Best Regards,
JMU
Jim Underwood
Apollo Information Systems, Inc.
Houston, TX 77058EMail: [EMAIL PROTECTED]
http://www.sunbelt-software.com/ntsysadmin_list_charter.htm
