Hewlett adds fuel to HP 'feud'

Walter Hewlett, son of HP founder Bill Hewlett, has notified investors of his intention to actively fight the proposed merger with Compaq.

In a filing with the US Security and Exchange Commission (SEC) Hewlett, along with two of his sisters and a former CFO of HP, signed a declaration which prepares the ground for a fight against the merger.

At the same time he unveiled an analyst report which claims the new deal will be bad for shareholders and HP employees alike.

Walter Hewlett, as trustee of the William and Flora Hewlett Foundation, controls about five per cent of HP stock.

Last week HP boss Carly Fiorina hit out at the press for "lazy" journalism - claiming the media have created a feud between the family and the company just to sell papers (or gain clicks).

The deal has been widely criticised by the press and analysts since it was announced on 4 September.