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.
Browsing: Enrique Lores
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.