Matrix drängt HP und Compaq zum Verzicht auf Fusion - 500 Beiträge pro Seite | Diskussion im Forum

[dpaAFX]

LONDON (dpa-AFX) - Die New Yorker Investmentfirma Matrix Asset Advisors fordert von Hewlett-Packard Co. und Compaq Corp , ihre geplante 19,7 Milliarden-Dollar-Fusion aufzugeben. "Wenn die Unternehmen eigenständig bleiben, bekommen wir das Meiste für unser Geld", sagte Matrix-Chef David Katz dem "Wall Street Journal" (Dienstagausgabe). "Die Aussichten für die eigenständigen Unternehmen sind besser und viel weniger mit Risiken behaftet."

Matrix besitzt rund 531.675 HP-Aktien oder 2,7% des Aktienkapitals und 826.846 Aktien oder 4,9% des US-Computerherstellers Compaq. Vergangene Woche bat das Unternehmen die Vorstände von HP und Compaq in einem Brief, die vereinbarte Fusion zu überdenken.

Katz sagte, das Investment-Unternehmen plane keinen Verkauf seiner Anteile, weil es glaube, dass die aktuellen Kurse den Wert der Aktien nicht wiederspiegele. Jedoch werde Matrix gegen die Fusion stimmen. Ein fusioniertes Unternehmen sei für einen Anteilsinhaber zwar immer noch attraktiv. Die beträchtlichen Fusionsrisiken könnten jedoch dazu führen, dass die Aktie sich deutlich schlechter entwickele als die anderer Technologiewerte.

Eine HP-Pressesprecherin lehnte einen Kommentar zum Matrix-Brief ab. Sie räumte jedoch ein, dass das Unternehmen zu den Fusionsplänen "positives und negatives von Investoren gehört habe". Ein Pressesprecher der Compaq sagte, dass "alle Zeichen für die Fusion auf grün stehen"./lm/hn/af

Autor: dpa - AFX (© dpa),11:45 16.10.2001

[ibmisout]

Ich hoffe Michael Capellas muß jetzt gehen und bitte ohne
Abfindung. Mir war bei Verkündung des Mergers klar das
dieser Scheitern muß. HWP hat die Sache schlau eingefädelt
der Schaden für CPQ ist immens.
Wird CPQ das Kundenvertrauen wieder aufbauen können ?



Hewlett Family Members and William R. Hewlett Revocable Trust To Vote Against Hewlett-Packard/Compaq Merger
PALO ALTO, Calif., Nov 6, 2001 /PRNewswire via COMTEX/ -- Walter B. Hewlett, Eleanor Hewlett Gimon, Mary Hewlett

Jaffe and The William R. Hewlett Revocable Trust announced today that they intend to vote their shares of Hewlett-Packard Company (NYSE: HWP chart, msgs) against the proposed merger of Hewlett-Packard and Compaq Computer Corporation (NYSE: CPQ chart, msgs) if the transaction is brought before Hewlett- Packard`s stockholders for a vote. Mr. Hewlett also announced that he has been informed by an independent committee of The William and Flora Hewlett Foundation that the Foundation has reached a preliminary conclusion to vote its Hewlett-Packard shares against the merger.

Walter B. Hewlett, Eleanor Hewlett Gimon and Mary Hewlett Jaffe are children of Hewlett-Packard co-founder William R. Hewlett. Walter Hewlett is a trustee of the William R. Hewlett Revocable Trust. That Trust, the Hewlett Foundation and the family members together own more than 100 million shares of Hewlett-Packard stock.

Mr. Hewlett stated, "After careful deliberation, consultation with my financial advisor and consideration of developments since the announcement of the merger, I have decided to vote against the transaction. I believe that Hewlett-Packard can create greater value for stockholders as a stand-alone company than as a company combined with Compaq. Hewlett-Packard has a strong tradition of innovation and product development, a highly profitable printer and imaging business, a strong foundation for expanding its outsourcing and consulting services business and an extremely talented work force.

"I firmly believe that partnering with Compaq will not give Hewlett-Packard what it needs most to create additional stockholder value -- expansion of its printer and imaging business as well as the higher-end segments of its services and server businesses. The combination would dramatically increase Hewlett-Packard`s exposure to the unattractive PC business and dilute current stockholders` interest in Hewlett-Packard`s profitable printer business. Given the lack of stockholder benefits, I believe the extensive integration risks associated with this transaction are not worth taking."

Mr. Hewlett noted:


-- acquiring Compaq would significantly increase Hewlett-Packard`s
exposure to PCs -- an area that is neither growing nor profitable;

-- the merger would substantially dilute the current stockholders`
interest in Hewlett-Packard`s profitable printer and imaging
business;

-- acquiring Compaq would expand Hewlett-Packard`s exposure in the
lower-end server business -- an area that has been less profitable
for Hewlett-Packard than the higher-end segment of that business;

-- Compaq`s services business, which is more focused on support than

outsourcing and consulting, is not the type of services business that
Hewlett-Packard should be seeking to grow;

-- the merger would distract Hewlett-Packard management and the rest of
the Hewlett-Packard employees from concentrating on areas in which
Hewlett-Packard excels and should be expanding;

-- the uncertainty created by the merger could cause existing and
potential customers to delay orders or to purchase products from
Hewlett-Packard`s competitors, which could have a significant and
long-term adverse effect on revenues;

-- during the extensive and complex integration process, there is likely
to be significant disruption and uncertainty among Hewlett-Packard`s
employees, which could lead to loss of extremely talented
individuals, loss of focus and ultimately loss of market share as a
result of a delay in the introduction of new and improved products;
and

-- since the announcement, the outlook for Compaq`s business has
declined dramatically -- making the prospects for any benefits to
Hewlett-Packard from a combination even less likely.

Mr. Hewlett is being advised by Cooley Godward llp for legal counsel and Friedman Fleischer & Lowe llc as financial advisor.

About Walter B. Hewlett

Walter B. Hewlett, an independent software developer, serves as Chairman of The William and Flora Hewlett Foundation, where he has been a director since its founding in 1966. Mr. Hewlett is also a trustee of the William R. Hewlett Revocable Trust. He has served since 1987 on the Board of Directors of Hewlett-Packard Company and since 1999 on the Board of Directors of Agilent Technologies, Inc. He was elected to the Board of Overseers of Harvard University in 1997. In 1994, Mr. Hewlett participated in the formation of Vermont Telephone Company of Springfield, Vermont and currently serves as its Chairman. He founded the Center for Computer Assisted Research in the Humanities in 1984, and currently serves as a director of the Center. He also serves on the boards of The Public Policy Institute of California and The Packard Humanities Institute. Mr. Hewlett is the son of the late Hewlett- Packard Company co-founder, William R. Hewlett.