Hewlett Packard (HP) chief executive Carly Fiorina has warned that the company may have to shut down its PC division if the merger with Compaq does not take place.
"If HP stands still and does not improve its printing business through the merger, it will suffer," she said.
The computer division closure would result in even more job losses than the 15,000 expected to be shed in the proposed merger, Fiorina told USA Today.
Separately, in its Securities and Exchange Commission filing on Monday HP stated that shareholders will be required to send in white cards signifying a vote of approval, or green cards indicating opposition to the deal.
The company said in the filing: "The HP board of directors urges share owners to sign, date and return each white proxy or voting instruction card promptly.
"The green proxy cards are being sent to HP share owners by a dissident group soliciting proxies against the proposal. The HP board of directors urges HP share owners to discard any green proxy or voting instruction card sent by the dissident group."
Also in the updated merger prospectus, HP said it would pay $33.1m to 10 top executives and $337m to about 6,000 selected employees over two years. Compaq would pay $2.4m to seven top executives and $242m to an undisclosed number of employees over two years, according to the filing.
The retention bonuses are designed to retain important employees during the difficult integration of the two companies. Both Fiorina and Michael Capellas, Compaq's chief executive, have turned down their bonus offers.
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