HP: shares up after Xerox raises offer
(CercleFinance.com) - Shares of US printer and computer maker HP rose on Monday after copier maker Xerox raised its offer for the company.
Xerox said it will now offer 24 dollars a share, up from 22 dollars a share previously.
In a statement, the company said the price included 18.4 dollars in cash and 0.149 Xerox shares for each HP share.
HP shares rose 2.4% to 22.3 dollars on the New York Stock Exchange after this announcement. Meanwhile, the Xerox stock was up 1.6%.
HP has rejected approaches made by Xerox to date, saying that the proposal "significantly undervalued" the company.
Xerox's offer is scheduled to start around 2 March.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
Xerox said it will now offer 24 dollars a share, up from 22 dollars a share previously.
In a statement, the company said the price included 18.4 dollars in cash and 0.149 Xerox shares for each HP share.
HP shares rose 2.4% to 22.3 dollars on the New York Stock Exchange after this announcement. Meanwhile, the Xerox stock was up 1.6%.
HP has rejected approaches made by Xerox to date, saying that the proposal "significantly undervalued" the company.
Xerox's offer is scheduled to start around 2 March.
Copyright (c) 2020 CercleFinance.com. All rights reserved.