Hewlett heir sets up anti-merger website

Disgruntled Hewlett Packard (HP) board member Walter Hewlett has taken his protest against the proposed $24bn merger with Compaq onto the internet.

Hewlett has been a long time opponent of the proposed deal, and the www.votenohpcompaq.com website will provide a commentary on the fight against the merger, which stockholders are scheduled to vote on in March.

Hewlett has insisted that the merger will weaken HP's existing portfolio, and will be of no real material benefit. He also believes that the integration risks caused by the merger are unacceptable.

"In the interests of all stockholders, we will continue to actively oppose the Compaq transaction," he says on the site.

Hewlett is backed by the William R Hewlett Revocable Trust, the William and Flora Hewlett Foundation and the David and Lucile Packard Foundation. He also claims to have the support of 18 per cent of HP's stockholders.

The website will contain press releases, the latest Security and Exchange Commission filings as well as analysis from Hewlett's financial advisors.

Hewlett first announced his disapproval of the proposed merger in November, one month after it had been approved unanimously by the HP board.

European antitrust regulators could yet demand an intensive investigation into the proposed merger. An announcement is expected on Thursday.