Markets & Finance

H-P Claims Victory in Compaq Deal Vote


Hewlett-Packard's (HWP) board said that based on a preliminary estimate provided by its proxy solicitor, it believes it has enough shareholder votes to approve the computer maker's $20.8 billion bid to acquire Compaq Computer (CPQ). H-P director Walter Hewlett, who is voting against the deal, issued a statement saying the vote was still "too close to call." (3/19)

Rural telephone carrier Alltel (AT) agrees to buy CenturyTel's (CTL) wireless assets for $1.65 billion. Last year, Alltel made an unsolicited $6.1 billion bid for rival CenturyTel. (3/19)

Alcoa (AA) agrees to acquire Ivex Packaging (IXX) in deal valued at about $790 million. IXX holders will to receive $21.50 per share in cash. (3/19)

Avanex Corp. (AVNX) agrees to merge with Oplink Corp. (OPLK) in a deal valued at about $610 million in stock. Oplink shareholders will get 0.405344 of an Avanex common share for each share. The combined company will be called Avanex and provide optical subsystems, modules and components for communications applications. (3/19)

Hawaiian Airlines (HA) decides not to extend the Apr. 18 deadline of the $170 million merger with Aloha Airgroup to obtain regulatory approvals. Aloha says the deal died after Hawaiian's board had voted unanimously not to complete the merger unless certain conditions were met. (3/18)

Associated Materials (SIDE) agrees to be acquired by an affiliate of Harvest Partners Inc., a private equity firm, for $50 a share in cash. The deal is worth about $436 million, including the refinancing of about $75 million of outstanding 9 1/4% senior subordinated notes. (3/18)


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