Xerox, HP blame each other as takeover battle heats up [Reuters]
Xerox Holdings Corporation (XRX)
Last xerox holdings corporation earnings: 4/28 06:30 am
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Source: Reuters
Xerox, HP blame each other as takeover battle heats up NEW YORK, March 2 (Reuters) - U.S. printer maker Xerox Holdings Corp took its $35 billion bid for HP Inc to the U.S. personal computer maker’s shareholders on Monday, with a formal tender offer and a rebuttal to HP’s account of why they could not negotiate a deal. HP adopted a “poison pill” last month to neutralize Xerox’s tender offer. Unless the companies can reach a compromise, it will be Xerox’s bid to replace HP’s board of directors at the latter’s annual shareholder meeting in the next few weeks, rather than the tender offer, that will determine the outcome of the takeover battle. The printing industry is in decline as companies and consumers turn to digital documents to save money and help the environment. This has put pressure on companies in the sector to consolidate and reverse revenue decline through acquisitions that can boost market share. However, after almost a year of on and off talks, HP and Xerox have been unable
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