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Compaq Notified of Competing Acquisition Proposal by Proxicom
HOUSTON, May 7, 2001
Compaq Computer Corporation (NYSE: CPQ) was notified on Sunday, May 6, 2001, that Proxicom, Inc. has received a competing proposal to acquire the company. Proxicom's board of directors has authorized its management team to investigate the proposal and will keep Compaq informed of the status of the competing proposal. The Proxicom board has not changed its recommendation to Proxicom shareholders. The merger agreement between Compaq and Proxicom continues in effect.
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