Xerox has said it plans to go directly to HP shareholders to present its case for a tie-up, in its latest push for a combination that is also backed by Carl Icahn.
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After HP rebuffed Xerox’s attempted $34-billion takeover attempt, don’t be surprised if the printer company’s next step is to say, “You don’t buy us, we buy you.” But don’t expect any offer to be generous.
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.
Xerox is prepared to offer HP almost a month for the companies to examine each other’s books as it seeks to win over the computer and printer maker for a takeover offer.
HP’s board is still deliberating over a $33-billion takeover proposal from Xerox, people familiar with the matter said, adding uncertainty to a potential blockbuster deal that would reshape the printing industry.
HP has confirmed that Xerox has made a takeover offer, a potential deal between two iconic names in technology that would reshape the printing industry.
Xerox is considering a cash-stock offer for the PC giant HP, a deal that could combine two of the biggest American names in office hardware.
Mark Hurd, who was CEO of three major technology companies including Oracle, has died. He was 62.
HP will slash as much as 16% of its workforce as part of a broad restructuring meant to cut costs and boost sales growth amid the company’s first change in top leadership in four years.
Back in the day, PCs were hip and investors chased computer stocks to sky-high valuations. Everyone was buying a desktop, and then a laptop, and the companies that supplied them could do no wrong.