Xerox is "aggressively pursuing" acquisition on PC giant HP by buying out all its public shareholding at $24 per share, according to a formal tender offer. HP has repeatedly refused to be acquired on Xerox's terms, and so Xerox is proposing to replace HP's entire board of directors with an independent board that it hopes will see the value of its offer. "Our proposal offers progress over entrenchment," Xerox CEO John Visentin states. "HP shareholders will receive $27 billion in immediate, upfront cash while retaining significant, long-term upside through equity ownership in a combined company with greater free cash flow to invest in growth and return to shareholders." Xerox claims to have secured financing of $24 billion from a consortium of financial institutions to help its efforts. Did Xerox just invent something as groundbreaking as the mouse?Many Thanks to biffzinker for the tip.