Archived Weblog Entry - 09/04/2001: "Hewlett-Packard to Acquire Compaq in $25 Billion Deal"

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09/04/2001 Archived Entry: "Hewlett-Packard to Acquire Compaq in $25 Billion Deal"

Hewlett-Packard to Acquire Compaq in $25 Billion Deal

Hewlett-Packard (news/quote) said yesterday that it was acquiring Compaq Computer (news/quote) for $25 billion in stock in a bold move to grow as the computer industry struggles with shrinking sales.

The merger, if completed, would produce a company with total revenue only slightly less than that of I.B.M. (news/quote), the largest computer company. But both Hewlett-Packard and Compaq have recently seen revenue slide and profit plunge because of a industry slowdown, and both have announced job cuts.