Xerox Looks to Buy Out HP at $24 per Share

btarunr · Mar 3, 2020

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.

View at TechPowerUp Main Site

bonehead123 · Mar 3, 2020

Xerox needs to wake the f*ck up and realize (as HP obviously does) that with most mergers/takeovers/buy-outs etc, it's not ALWAYS only about the money...

There are also job/talent losses, integration costs, IP transfers, market segmentation etc to consider....

HP may have made some moderately dick moves over the years, but selling thier souls to the highest bidder hasn't been one of them

trparky · Mar 3, 2020

Sounds like Xerox is attempting a hostile takeover.

Sp33d Junki3 · Mar 3, 2020

It is a hostile takeover.

mak1skav · Mar 3, 2020

They gonna lose so much money in the future if they buy HP that it will be hilarious.

eidairaman1 · Mar 3, 2020

They will face an injunction to cease, they cannot buyout an independent company

Antitrust suit

Easo · Mar 3, 2020

It still boggles my mind how a company can try to do hostile takeover of someone with 6 times the revenue and tens of times bigger net income.
Xerox is not a small company, but HP is a giant. Also, HP is most definitely not stagnating, in my opinion.

MicroUnC · Mar 4, 2020

Love these corp wars :roll:

lexluthermiester · Mar 5, 2020

eidairaman1 said:
They will face an injunction to cease, they cannot buyout an independent company

Antitrust suit

More or less this. Xerox is going to get sent home.

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Xerox Looks to Buy Out HP at $24 per Share

btarunr

Editor & Senior Moderator

bonehead123

trparky

Sp33d Junki3

mak1skav

eidairaman1

The Exiled Airman

Easo

MicroUnC

lexluthermiester

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