Hewlett-Packard to Link Up With Apollo by May 22
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PALO ALTO, Calif. — Hewlett-Packard expects to complete the acquisition of Apollo Computer of Chelmsford, Mass., by May 22, the giant electronics company announced today.
More than 35 million shares of Apollo Computer Inc. common stock have been tendered to the California company, according to a preliminary count by Hewlett-Packard.
The shares, which equal about 97% of the outstanding shares of Apollo, have been “accepted for payment in the proposed acquisition of Apollo by HP,” the company said in a statement. The statement said Apollo will become a wholly owned subsidiary of Hewlett-Packard.
The merger will unite two of the nation’s leading manufacturers of workstations, desktop computers that are more powerful than personal computers and are generally used by scientists and engineers. They make up the fastest-growing segment of the computer industry.
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