PALO ALTO, California, United States—After about a one-month review, the European Commission approved the merger between Hewlett-Packard and Compaq Computer.
U.S. regulators will now review the merger, which faces opposition from a group led by Walter Hewlett.
“We are extremely pleased with the EU’s decision,” said Carly Fiorina, HP chairman and chief executive officer (CEO). “Today’s announcement confirms that the deal does not raise competition concerns in Europe, and we see it as an encouraging step in the continuing process of satisfying regulators worldwide that this deal will provide a real stimulus for competition in information technology markets.”
In addition, both companies set days in late March for their shareholders to vote on the proposed merger. HP’s stockholder vote will be held 19 March, while Compaq’s shareholders will vote 20 March.
