Xerox Files Hostile Takeover Offer for HP

Xerox tries to get hold of HP through a hostile takeover. The company is offering shareholders $24 per share. The offer ends on April 21. At the end of last year, HP rejected a $33.5 billion takeover offer from Xerox.

Xerox is now trying to get hold of all outstanding shares in order to acquire HP. The printer manufacturer is offering $24 a share. The offer consists of $18.40 cash and 0.149 Xerox shares for each HP share. At the time of writing, HP’s stock is worth about $21 on the exchange. According to Xerox, shareholders will receive $27 billion in cash in this way and the company can invest in growth and return for shareholders after the acquisition.

At the end of last year it was announced that Xerox computer manufacturer HP Inc. wants to take over. The company made an offer, but it was rejected by HP. That rejection revealed that Xerox had bid $33.5 billion, $22 a share. HP thought that offer was too low and not in the interest of its shareholders.