3 March 2020
Xerox Starts War With HP On Public Tender
NORWALK, CONN—
Borrowing over $24 billion to fund stock bid
Borrowing over $24 billion to fund stock bid
 Xerox has finally launched a tender offer to acquire all outstanding shares of HP Inc.for $24.00 per share, comprising $18.40 in cash and 0.149 Xerox shares for each HP share.The offer and withdrawal rights are scheduled to expire at 5:00 p.m. New York City Time on April 21, 2020, unless the offer is extended. Xerox.HP has advised its shareholders to “take no action at this time” pending the board’s review
More than 4 times lager than Xerox
More than 4 times lager than Xerox
and evaluation of the offer, and said it intends to advise shareholders of the board’s position regarding the offer within 10 business days. Xerox is also trying to replace HP board of directors at the next shareholders meeting. Xerox has  confirmed $24 billion in financing commitments from lenders (that are not subject to any due diligence condition).
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