Compaq Reduces Purchase Offer

Compaq Computer Corp., the Houston-based computer giant, has lowered its previously reported offer to acquire to $18.25 per share, from $19 per share. Compaq said it negotiated the revised offer after "the disclosure by of additional information, including information regarding the number of shares of common stock and convertible securities outstanding." The revised offer has been endorsed by the board of directors of, Corona del Mar, CA, a fledgling online commerce company.

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