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HP Says Merger Won Employee Support

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Associated Press

Hewlett-Packard Co. Chief Executive Carly Fiorina said most shares in employee stock programs were voted for the Compaq Computer Corp. acquisition, contradicting claims of widespread worker opposition by dissident director Walter Hewlett.

In a memo to employees, Fiorina and Compaq CEO Michael Capellas said they were gratified that according to a preliminary tally of last week’s shareholder vote, the $19-billion deal won support of a majority of shares held in HP’s employee stock-purchase plans.

A proxy firm in Delaware is expected to release the official results in the next few weeks.

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