The deepening rivalry may decide the direction of artificial intelligence design and adoption.
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HP has announced it will return $16-billion to shareholders, primarily through buybacks, and boost cost cuts, trying to rally investors against Xerox for control of the world’s second largest PC maker.
In the lumbering takeover battle for HP, Xerox had been wielding plenty of stick, so it was about time for some carrot. What came was more of a crudite, but it might just be the appetiser that HP needs.
HP’s board unanimously rejected Xerox’s unsolicited takeover proposal, saying the $22/share offer is too low and citing concerns about the smaller rival’s prospects in the printing industry.