The proposed merger between HP and Compaq will be put to the test in mid-March when shareholders from both companies meet to vote on whether to go ahead with the union.
While both companies are anxious to amalgamate, there has been speculation as to whether the merger will go ahead or not, particularly after the families of Bill Hewlett and David Packard, the founders of HP, voiced their opposition to the deal.
Shareholders from HP will meet in California on March 19th, where they’ll be asked to vote on the proposed union, while Compaq shareholders will vote the following day at a meeting in Houston.
Although shareholders are expected to vote in favour of the merger, both companies still have to wait for approval from the U.S. Federal Trade Commission (FTC) before they can proceed, As both the European Commission and Canadian regulators have already given the go ahead, it seems unlikely that the FTC will turn it down. The merger, which is the biggest takeover in IT history, is valued at $25bn and will make the new company the second biggest IT company in the world.
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