H-P and Compaq Complete Their Merger - TheStreet

Hewlett-Packard

(HWP)

hoisted

Compaq

(CPQ)

over the threshold Friday, making it an honest mate.

The technology stalwarts entered the weekend a combined entity, announcing the legal completion of their combination. Compaq's shares will no longer trade as of Monday, May 6, and Hewlett-Packard will begin trading under its new stock ticker, HPQ.

Compaq shareholders approved the pairing back in March, and the H-P proxy vote tally was delivered just Wednesday, when an independent tallying firm confirmed that H-P had indeed garnered enough shareholder support to OK the pairing.

The two companies announced their intent to merge at the beginning of September, but the idea met with resistance later in the fall when then-board member and large shareholder Walter Hewlett began what became a formidable opposition attacking the merger. On Tuesday a Delaware court threw out Hewlett's lawsuit in which he alleged H-P had improperly pressed institutional investors to support the merger. With that final resistance point overcome, H-P pushed the merger to fruition with great speed.