Report: Fiorina ups merger promotion effort

Hewlett-Packard Co. (HP) Chief Executive Officer (CEO) Carly Fiorina is increasing her efforts to win support for the multibillion-dollar merger with Compaq Computer Corp. that is hanging by a thread after the largest HP shareholder turned against it last week, according to a report published Wednesday.

"We will be even more aggressive about our communication. I have two priorities: to work with the investment community so they understand the benefits of this deal and, second, to run the business," Fiorina told The Wall Street Journal.

Big institutional investors can make or break the merger after the David and Lucile Packard Foundation on Friday joined other HP founder families and related foundations in their opposition of the deal. Together these opponents hold about 18 percent of HP shares outstanding.

Taking a swipe at the HP family members and their foundations, Fiorina said they have concerns that might differ from those of HP and the other investors, such as stability and capital preservation, according to the report.

Fiorina, one of the merger's lead architects, in the interview also repeated that the deal is not about PCs, but about sales of more powerful computing systems and services to large companies. The "new HP" wants to compete head-to-head against IBM Corp.'s Global Services businesses and consulting firms such as Accenture.

HP and Compaq also have not had the chance to fully detail their merger plans because of pending regulatory approval. The companies may have to shed some of their activities to be allowed to merge, preventing them from painting a clear picture of what the new HP will look like, Fiorina told the newspaper.

The interview comes a day after Compaq CEO Michael Capellas stated that he supports the deal with HP, but that his company does have a contingency plan in place should the merger fall through. Capellas, in a widely publicized memo to his employees on Friday, said that Compaq on its own could meet the goals of the merger.

HP will launch a "full road show" in January to persuade investors to vote in favor of the merger, according to HP Chief Financial Officer Robert Wayman, cited in The Wall Street Journal.

Join the newsletter!


Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Joris Evers

Show Comments

Cool Tech

Toys for Boys

Family Friendly

Stocking Stuffer

SmartLens - Clip on Phone Camera Lens Set of 3

Learn more >

Christmas Gift Guide

Click for more ›

Brand Post

Most Popular Reviews

Latest Articles


PCW Evaluation Team

Aysha Strobbe

Microsoft Office 365/HP Spectre x360

Microsoft Office continues to make a student’s life that little bit easier by offering reliable, easy to use, time-saving functionality, while continuing to develop new features that further enhance what is already a formidable collection of applications

Michael Hargreaves

Microsoft Office 365/Dell XPS 15 2-in-1

I’d recommend a Dell XPS 15 2-in-1 and the new Windows 10 to anyone who needs to get serious work done (before you kick back on your couch with your favourite Netflix show.)

Maryellen Rose George

Brother PT-P750W

It’s useful for office tasks as well as pragmatic labelling of equipment and storage – just don’t get too excited and label everything in sight!

Cathy Giles

Brother MFC-L8900CDW

The Brother MFC-L8900CDW is an absolute stand out. I struggle to fault it.

Luke Hill


I need power and lots of it. As a Front End Web developer anything less just won’t cut it which is why the MSI GT75 is an outstanding laptop for me. It’s a sleek and futuristic looking, high quality, beast that has a touch of sci-fi flare about it.

Emily Tyson

MSI GE63 Raider

If you’re looking to invest in your next work horse laptop for work or home use, you can’t go wrong with the MSI GE63.

Featured Content

Product Launch Showcase

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?