Keefe
09-04-2001, 06:20 PM
NEW YORK (CNN) -- The world's second biggest computer maker, Hewlett-Packard and third-ranked Compaq Computer will merge in a $25 billion stock deal, the companies announced Monday.
HP and Compaq confirmed a "definitive merger agreement" which they said would create a new Hewlett-Packard with total revenue of $87.4 billion, and save $2.5 billion in costs a year.
The agreement comes at a time of depressed sales and earnings in the information technology industry, with many high-tech companies forced to slash their workforces as demand shrivels.
Check out the full article here. (http://asia.cnn.com/2001/BUSINESS/asia/09/04/hp.compaq/index.html)
HP and Compaq confirmed a "definitive merger agreement" which they said would create a new Hewlett-Packard with total revenue of $87.4 billion, and save $2.5 billion in costs a year.
The agreement comes at a time of depressed sales and earnings in the information technology industry, with many high-tech companies forced to slash their workforces as demand shrivels.
Check out the full article here. (http://asia.cnn.com/2001/BUSINESS/asia/09/04/hp.compaq/index.html)