HP Nixes Direct-Sales Plan

CRN Palo Alto, Calif. – 3:12 PM EST Fri., Apr. 19, 2002
On the eve of a seemingly insurmountable proxy vote victory, Hewlett-Packard last week came perilously close to derailing the cornerstone of its post-merger channel strategy.
Late Wednesday, HP said that a preliminary tally of the March 19 proxy vote showed that shareholders approved the Compaq Computer merger by 45 million votes, exceeding the 17 million votes challenged in a lawsuit by dissident HP director Walter Hewlett. (full story)