H L Data Storage Store Banner 970x90
Breaking News

CORSAIR Launches New TC200 Gaming Chairs Samsung Begins Chip Production Using 3nm Process Technology With GAA Architecture GIGABYTE Enterprise Products Support AMD Ryzen Threadripper PRO 5000WX Series Processors Arcade Paradise launches on PS4 & PS5 on August 11 Nikon announces Z 30 APS-C size mirrorless camera and NIKKOR Z 400mm f/4.5 VR S

logo

  • Share Us
    • Facebook
    • Twitter
  • Home
  • Home
  • News
  • Reviews
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map

Search form

HP Rejects Xerox's Latest Takeover Offer

HP Rejects Xerox's Latest Takeover Offer

Enterprise & IT Mar 5,2020 0

HP Inc.'s Board of Directors, after consultation with its independent financial and legal advisors, has concluded that the unsolicited exchange offer from Xerox Holdings Corp. to acquire all outstanding common shares of HP for consideration consisting of cash, Xerox common stock, or a combination thereof "is not in the best interests of HP shareholders."

The U.S. printer maker had increased its offer last month by $2 to $24 per share, following rejections of its previous buyout offers by the PC maker.

The HP Board unanimously recommends that HP shareholders reject the offer and not tender their HP shares pursuant to the Offer.

“Our message to HP shareholders is clear: the Xerox offer undervalues HP and disproportionately benefits Xerox shareholders at the expense of HP shareholders,” said Chip Bergh, Chair of HP’s Board of Directors. “The Xerox offer would leave our shareholders with an investment in a combined company that is burdened with an irresponsible level of debt and which would subsequently require unrealistic, unachievable synergies that would jeopardize the entire company.”

"At HP, we’re creating value, not risk,” said Enrique Lores, HP’s President and CEO. "HP is a trusted brand with a strong track record of value creation and we’re executing a clear plan that will drive significant earnings growth. We’re well positioned in our categories, aggressively attacking costs and pursuing the most value creating path for our shareholders."

The HP Board concluded that the Xerox offer "principally offers HP shareholders something they already own, and would disproportionately benefit Xerox shareholders relative to HP shareholders." The offer would also "use HP’s balance sheet as transaction consideration for the benefit of Xerox shareholders." HP added that the offer "meaningfully undervalues HP by failing to reflect the full value of HP’s assets and its standalone strategic and financial value creation plan."

"Xerox does not have experience operating businesses in the sectors in which HP operates, including within Personal Systems, Home Printing, and 3D and Digital manufacturing," HP added.

Following the raised offer, HP had said it would implement a poison pill plan to stop investors from amassing more than 20% stake in the company.

Tags: XeroxHP
Previous Post
Google Stadia Pro Adds 4K Support on Web
Next Post
Huawei Unveils the P40 Lite and P40 Lite E in Europe

Related Posts

  • HP debuted its newest HP Spectre and HP Envy laptops

  • HP Announces Omen 16 and Victus 15 new gaming laptops

  • HP Threat Research Shows Attackers Exploiting Zero‐Day Vulnerability Before Enterprises Can Patch

  • AMD EPYC Processors Enable Next Generation of Hewlett Packard Enterprise Storage

  • HP Announces its CES 2021 Product Launch Line-Up

  • HP, Valve, and Microsoft Present the Reverb G2 Virtual Reality Headset

  • HP Launches New HP EliteBooks, the ZBook Firefly 14 and E-Series Monitors

  • HP Announces New Chromebooks and Thin Client Solutions

H L Data Storage Store Banner 300x600

 

Latest News

CORSAIR Launches New TC200 Gaming Chairs
Gaming

CORSAIR Launches New TC200 Gaming Chairs

Samsung Begins Chip Production Using 3nm Process Technology With GAA Architecture
Enterprise & IT

Samsung Begins Chip Production Using 3nm Process Technology With GAA Architecture

GIGABYTE Enterprise Products Support AMD Ryzen Threadripper PRO 5000WX Series Processors
Enterprise & IT

GIGABYTE Enterprise Products Support AMD Ryzen Threadripper PRO 5000WX Series Processors

Arcade Paradise launches on PS4 & PS5 on August 11
Gaming

Arcade Paradise launches on PS4 & PS5 on August 11

Nikon announces Z 30 APS-C size mirrorless camera and NIKKOR Z 400mm f/4.5 VR S
Cameras

Nikon announces Z 30 APS-C size mirrorless camera and NIKKOR Z 400mm f/4.5 VR S

Popular Reviews

CeBIT 2005

CeBIT 2005

CeBIT 2006

CeBIT 2006

Zidoo Z9S 4K Media Player review

Zidoo Z9S 4K Media Player review

LiteOn iHBS112 review

LiteOn iHBS112 review

Club3D HD3850

Club3D HD3850

Pioneer BDR-2207 (BDR-207M) BDXL burner review

Pioneer BDR-2207 (BDR-207M) BDXL burner review

External USB Slim Recorders Comparison

External USB Slim Recorders Comparison

Crucial P1 NVMe 1TB SSD review

Crucial P1 NVMe 1TB SSD review

  • Home
  • News
  • Reviews
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map
  • About
  • Privacy
  • Contact Us
  • Promotional Opportunities @ CdrInfo.com
  • Advertise on out site
  • Submit your News to our site
  • RSS Feed