No Controversy at Compaq, Shareholders OK the Merger

All Compaq (CPQ Quote) shareholders in favor of a stock price that goes up, say "aye."

At a special meeting held in Houston on Wednesday, Compaq shareholders celebrated the end of voting on the computer maker's proposed merger with Hewlett-Packard (HWP Quote), currently valued around $21 billion. While a corresponding H-P event a day earlier featured protests, a heralded opponent and early management claims of victory, Compaq's wearied investors rubber-stamped the deal giving them a 6% premium for their shares and happily turned over their fate to a legendary technology power almost 2,000 miles away.

"I am gratified that Compaq shareholders have seen the power behind the merger of these two great technology companies and given the board of directors and management their resounding support," said CEO Michael Capellas in reaction to a 9-to-1 approval ratio in the final vote. ...