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On 4 September, 2001, Hewlett-Packard Company and Compaq Computer Corporation announced to the markets a merger agreement that would create a new technology giant worth at the time, a combined $87 billion dollars. The stock market reaction to the merger was mixed. Within six weeks of the merger announcement, Walter Hewlett, the son of Hewlett-Packard co- founder William Hewlett, hired the proxy solicitation firm MacKenzie Partners, possibly signaling the potential fight between the firm''s merger plans and the Hewlett family. Analysts following the merger and subsequent negative news were skeptical of whether or not the transaction could be completed. Most analysts suggested that for the deal to be approved, nearly 70% of the current Hewlett-Packard institutional shareholders would need to support the merger. Hewlett-Packard announced that it would continue to meet with investors, customers, and employees to educate them on the benefits of the transaction. While the deal may look in jeopardy to the market, management of both HP and Compaq believed it would succeed.