Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Application From Hewlett-Packard To Acquire Compaq

Issued 14 February 2002/015


Commerce Commission Receives Application From Hewlett-Packard To Acquire Compaq Computer Corporation

The Commerce Commission has received an application from Hewlett-Packard Company to acquire the whole of the issued share capital of Compaq Computer Corporation.

Hewlett-Packard and Compaq proposed to merge in the United States in an agreement dated 4 September 2001. Under the terms of that transaction, it is proposed that Compaq be merged with a newly formed subsidiary of Hewlett-Packard, thus becoming a wholly owned Hewlett-Packard subsidiary.

Hewlett-Packard and Compaq have a number of New Zealand interconnected bodies corporate including Hewlett-Packard NZ Limited, Compaq Financial Services (New Zealand) Limited and Compaq Computer New Zealand. The terms of the merger agreement in New Zealand have not yet been finalised.

In considering the application under the Commerce Act, the Commission’s role is to determine whether the merger has the effect of substantially lessening competition in any New Zealand market. Hewlett-Packard suggests that the relevant New Zealand markets are the supply of PCs, handheld information devices, servers, enterprise storage systems, IT services and the supply of printers.

A public version of Hewlett-Packard’s application is available on request from the Commerce Commission. Please contact Catherine Best, (04) 498-0953.

Background

Hewlett-Packard was founded in 1939 and incorporated in 1947 in the State of California. Its corporate headquarters are in Palo Alto, California. It operates in more than 120 countries. More than half of it’s revenue is derived from business outside the US. Hewlett-Packard is a global provider of computing and imaging solutions and services for businesses and the home.

Compaq was founded in 1982. Compaq is a global provider of computing products and services, and has its corporate headquarters in Houston, Texas.

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>

ALSO:

Results:

Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news