Xerox holds firm on HP offer, sets Monday deadline
Xerox said Thursday it was holding firm on its $33 billion takeover offer for computer and printer maker HP, and warned it would take the matter to shareholders directly without a deal by Monday.
The announcement from the copy machine pioneer came days after HP rejected the bid, claiming it “significantly undervalues” the Silicon Valley firm.
Xerox, in a letter to the HP board, said it was “very surprised” by the rejection of the cash-and-stock offer which sets a value of $22 per share for the computing firm.
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