Digital shareholders, by a modest margin, approved the company?s merger with Compaq, completing the biggest takeover in computing history.
The merger got a 72 per cent approval, just over the 66 per cent it needed to be accepted.
Compaq will pay $4.5 billion in cash and 141 million shares of stock. Digital shareholders will receive $30 in cash and $.945 shares of Compaq stock for each share.
On the eve of the shareholder meeting, Digital president and CEO Bob Palmer announced his resignation (see analysis section).
Compaq is expected to announce job cuts of up to 15,000 former Digital workers. The company said on Thursday it expects to break even in its second fiscal quarter.It will announce more details today.
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