One of the reasons I think this deal is so poor is at the base of it HWP thinks they are buying CPQ's customers.
HP keeps saying: "We'll be a $86B company"..etc. As though they will automatically buy from HWP once the deal is concluded.
Certainly there will be leakage, and its been considered and discussed. The part that concerns me is that the captive customer mentality is the hallmark of AT&T/Lucent. 100 years of monopoly business left an indelible imprint on their thinking: customers will buy what we tell them, how we tell them, when we tell them.
That is just one of the huge mistakes in the center of this deal.
No, you'll have one company that will still be losing money in PCs, has seven different operating systems, diminished ability to finance anything as both CPQ and HWP credit rating is about to drop, and will be struggling with its own integration issues for 24 months.