After HP’s board of directors once again rejected a takeover bid from Xerox last weekend, Xerox prepares to make its $33.5 billion buyout bid by skleb1234
to Xerox that its proposal “significantly undervalues HP,” as well as criticizing the company for using “aggressive” tactics to pursue the deal after being spurned twice.on Tuesday, saying that it will go directly to HP shareholders to present its case for a buyout, as HP’s stance on the merger “defies logic.”
“We plan to engage directly with HP shareholders to solicit their support in urging the HP Board to do the right thing and pursue this compelling opportunity,” Xerox CEO John Visentin wrote in theIf HP shareholders end up supporting Xerox’s proposed takeover bid, they could take action to pressure management: Although they can’t directly overrule them, they can try to call a general meeting, attempt to replace board members or possibly even take legal action.
to HP board members. “Together, we could create an industry leader—with enhanced scale and best-in-class offerings across a complete product portfolio—that will be positioned to invest more in innovation and generate greater returns for shareholders.”Xerox offered to spend $22 per share, or $33.5 billion, to acquire HP earlier this month, making a case for a merger that it said would save both companies $2 billion in costs over the next two years.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Spurned Again By HP, Xerox Prepares To Make A Hostile Buyout BidThe two companies are at odds over a proposed takeover bid.
Read more »
HP again slaps down Xerox takeover bid, questions its cash-raising abilityHP Inc. again rejected acquisition overtures from Xerox Corp. on Sunday, in a sharply worded letter that questioned the copier company’s ability to raise...
Read more »
Uber stripped of London operating licence, againUber was stripped of its London operating licence on Monday for the second time ...
Read more »
Uber stripped of London operating license, againUber was stripped of its London operating license on Monday for the second time ...
Read more »
Elon Musk again tries to impress with his Cybertruck — this time without a sledgehammerThe Tesla CEO tweeted a video of his Cybertruck hauling a Ford F150 up a hill, three days after its 'armor glass' windows shattered during its launch.
Read more »