Xerox Holdings Corp. sweetens HP Inc. takeover bid

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Xerox Holdings Corp. sweetens HP Inc. takeover bid

On Monday, the 10th of February 2020, the Norwalk, Connecticut-based multinational printer manufacturer Xerox Holding Corp. had added a sweetener at its HP Inc. buyout proposal, heightening up its buyout bid for the US-based multinational personal computer manufacturer by $2 to $24 per share.

In point of fact, latest buyout bid from Xerox Holdings Corp. for HP Inc., which had already witnessed a swathe of dramatic turn of events including HP Inc.’s reverse proposal to purchase Xerox Holdings Corp. instead, came forth months after HP Inc.

had rejected a previous buyout bid of $33 billion from the Norwalk-based printer maker adding that the buyout amount significantly undermined the US-based personal computer maker’s market valuation. Nonetheless, according to Monday’s (February 10th) renewed buyout bid from Xerox Holdings Corp., the printer-manufacturer’s latest offer would include $18.40 per share in cash alongside 0.149 of Xerox shares for each of the HP shares, which in effect would value the Palo Alto, CA-based Hewlett-Packard Inc.

roughly $35 billion, while the printer maker had also added it had been drawing out plans to initiate a tender offer as early as by March 2nd. Meanwhile, followed by the reveal of the Xerox Holdings Corp.’s latest buyout bid for HP Inc., shares’ prices of HP Inc.

rose more than 4 per cent to $22.67 per share in after-market trading, while Xerox shares’ prices were up by 2.47 per cent in pre-market trading to $37.92 per share.