Xerox to host dinner for HP Inc. shareholders as hostile takeover bid heats up


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Xerox to host dinner for HP Inc. shareholders as hostile takeover bid heats up

The Norwalk, Connecticut-based American multinational printer manufacturer, Xerox Holdings Corp., had been hauling an option to host a dinner for HP Inc. shareholders as early as this week as a part of its broad-based plan to take over the US-based personal computer maker, while as the Norwalk-based printer maker had taken the $35 billion buyout bid directly to the HP Inc.

shareholders, the printer maker was looking to break off the personal computer manufacturer’s resistance, people familiar with the subject-matter had unveiled on condition of anonymity on Monday, the 17th of February 2020.

In point of fact, latest advancement on Xerox Holdings Corp.’s acquisition bid for the HP Inc., which the personal computer maker had rejected twice thus far citing an undervaluation of the firm, came against the backdrop of a Xerox move last week when the Norwalk-based printer maker had raised its all-stock buyout bid by $2 per share to $24 a share, valuing the HP Inc.

at $35 billion. Besides, sources familiar with the issue were also quoted saying that the American multinational printer maker had been brewing off a plan to ask the HP shareholders to supplant HP Inc.’s board of directors with Xerox-backed contenders at the personal computer manufacturer’s annual shareholder meeting scheduled to take place later this year.