HP: rejects Xerox's unsolicited takeover bid
(CercleFinance.com) - HP Inc.
said on Sunday that its board has unanimously rejected Xerox's unsolicited takeover offer, saying that the bid significantly undervalued the company.
The matter, however, remains open for discussion, the Palo Alto-based company said in a statement.
"We recognize the potential benefits of consolidation, and we are open to exploring whether there is value to be created for HP shareholders through a potential combination with Xerox," the PC and printer maker wrote.
Two weeks ago, copier maker Xerox said it was prepared to offer HP shareholders 22 dollars per share, comprised of 17 dollars in cash and 0.137 Xerox shares for each of their shares, meaning a total price of 33.5 billion dollars.
The HP share was down 1.8% at 19.8 dollars in pre-market trading on Monday.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
said on Sunday that its board has unanimously rejected Xerox's unsolicited takeover offer, saying that the bid significantly undervalued the company.
The matter, however, remains open for discussion, the Palo Alto-based company said in a statement.
"We recognize the potential benefits of consolidation, and we are open to exploring whether there is value to be created for HP shareholders through a potential combination with Xerox," the PC and printer maker wrote.
Two weeks ago, copier maker Xerox said it was prepared to offer HP shareholders 22 dollars per share, comprised of 17 dollars in cash and 0.137 Xerox shares for each of their shares, meaning a total price of 33.5 billion dollars.
The HP share was down 1.8% at 19.8 dollars in pre-market trading on Monday.
Copyright (c) 2019 CercleFinance.com. All rights reserved.