PALO ALTO, CA: Hewlett-Packard has hired consultants to help it
reach out to institutional shareholders. The company declined to specify
who has been hired to help with the outreach plans, but the timing is
significant.
The Packard Foundation, with a 10.4% stake in the company, has decided
to vote against the proposed Compaq merger.
Thus, HP is mounting an offensive to convince institutional shareholders
that the merger is in their best interest.
Carly Fiorina, CEO of HP, gave an interview to The Wall Street Journal
that highlighted her focus on communications. "This is a doable deal,"
she said. "We will be even more aggressive about our communications. I
have two priorities: to work with the investment community so they
understand the benefits of this deal and, second, to run the business."
