HP continues to resist Xerox acquisition

HP headquarters in Palo Alto

Management recently said it wanted to talk to Xerox to explore a possible combination in the interests of shareholders.

(Photo: AFP)

Palo Alto The PC and printer manufacturer HP Inc continues to resist the takeover efforts of the much smaller printer and copier manufacturer Xerox. Xerox’s offer reflects the value of HP not sufficiently reflected, announced on Thursday in Palo Alto, California. In addition, given the resulting debt, the acquisition would result in significant financial risks for HP shareholders.

Xerox has been trying to get HP since the fall, but it was down. In February the group increased its offer and since then has offered $ 24 per share in cash and Xerox paper. In total, Xerox would pay almost $ 35 billion for HP. The driving force behind a possible deal is the controversial US investor Carl Icahn, who holds large shares in both groups.

Most recently, HP management had said it wanted to hold talks with Xerox to explore a possible combination in the interests of shareholders, but at the same time had increased its share buyback program to $ 15 billion to help investors in the event of a hostile takeover attempt.

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