Capellas: Compaq Shareholders Will Approve Merger

Capellas, speaking in an interview on CNBC shortly after HP executives announced their belief that they have enough shareholder votes to approve the merger proposal on their side, said he has spent a lot of time speaking to investors and believes Compaq shareholders will pass the merger by "a very comfortable margin."

A prepared statement from Capellas cited a "groundswell of support" from Compaq customers, partners and shareholders who believe the move would bring strategic benefits to the company.

"We continue to believe that this merger will rapidly accelerate our strategy, improve overall earnings power and provide increased value for customers, shareholders and employees," he said in the statement. "With the HP vote now behind us and the Compaq shareholder vote Wednesday, we are very close to making this merger a reality."