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HEWLETT-PACKARD and Compaq's proposed merger suffered a setback last week when reports surfaced that David Packard, son of HP's co-founder, had joined the Hewlett family in opposing the deal.
The new objections could do more than simply kill the deal. One analyst said that if the merger fails, Carly Fiorina's tenure as HP's chief will likely end.
Packard issued a statement Tuesday outlining his objections to the merger, according to Lehman Brothers analyst Daniel Niles, who obtained a copy of Packard's statement and reprinted it in his own research note.
In the statement, Packard said he agrees with Walter B. Hewlett's criticisms of the deal. …