Five Biggest Disputes in Xerox’s ‘Hostile’ Takeover Bid for HP
Xerox CEO John Visentin has confirmed he will go around HP Inc.’s management in his company’s takeover bid for the PC and printer giant.
“We plan to engage directly with HP shareholders to solicit their support in urging the HP Board to do the right thing and pursue this compelling opportunity,” Visentin said in a letter to HP’s board of directors, posted on Xerox’s website Tuesday.
It’s the latest salvo between the two companies, which have been clashing publicly over the past two weeks amid Xerox’s unsolicited $33 billion offer for HP.
Xerox is “choosing to pursue a hostile approach rather than continue down a more productive path” that could lead to a merger, HP’s board said in its latest letter, which was sent to Xerox and posted online on Sunday.
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