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Seeking Support or Offering Bribes?: HP Case Tests Rules On Courting Shareholders

Date: April 26, 2002
Author: Ariana Eunjung Cha
QUOTE: ...that banking executives concerned about maintaining a relationship with HP were improperly influencing investment-side personnel who were voting on behalf of clients.

ABSTRACT: Losers of a proxy battle over the merger of Hewlett-Packard (HP) and Compaq have charged HP's management with inappropriately pressuring banks and others to vote in favor of the merger. The issue to be resolved by the courts: how far can executives go to pressure (persuade!?) shareholders and their representatives?

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