Votes row in Hewlett-Compaq bid

A PRESIDENTIAL election-type wrangle is looming in America with as little as 0.5% of the shareholder vote thought to separate supporters and opponents of Hewlett-Packard's $21bn(£15bn) buyout of computer maker Compaq.

Hewlett-Packard chief executive Carly Fiorina, who would almost certainly lead a board exodus if the world's largest computer company combination fails to go through, declared victory after voting closed. Opponents of the tie-up, led by the co-founder's son Walter Hewlett, believe the final hand count could yet fall in their favour.

As both sides can call on scrutineers to recount the votes cast by Hewlett's 900,000 shareholders, and challenge disputed ballots, the result could take as long to emerge as the disputed Florida vote that put George W Bush in the White House.

Combining the two firms would create a global technology giant with current combined annual sales of about $80bn, but the planned cost savings are likely to see about 10% of the combined 150,000 workforce cut.

Opponents argue that buying Compaq adds little to Hewlett's technology portfolio and will damage margins. Hewlett-Packard employs 3,000 people in Britain.