The opponents of the deal argue that the Compaq merger is simply a bad idea.

It also issues recommendations on mergers, but its role has never been as potentially significant as in the Compaq merger.

The Compaq merger has been controversial since it was announced on Sept. 4.

It said that the turmoil surrounding the Compaq merger had caused people to lose focus and miss opportunities.

The Compaq merger, according to Dell executives, should provide an opening for competitive gains.

They see his opposition to the Compaq merger as a principled stand against a deal he regards as a bad one.

A date for a shareholder vote on the Compaq merger has not been set.

The document, however, is an argument against the Compaq merger.

's largest shareholder with 10.4 percent, said it would also oppose the Compaq merger.

Including the family foundations, the declared vote against the Compaq merger is roughly 22 percent.