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Xerox threatens hostile bid unless HP opens its books

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polkamatic   Friday, 11/22/19 11:28:37 AM
Re: polkamatic post# 503
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Xerox threatens hostile bid unless HP opens its books

Nov 21 (Reuters) - Xerox Corp on Thursday threatened to take its $33.5 billion buyout bid for HP Inc hostile, if the personal computer maker did not agree to a "friendly" discussion and open its books before Nov. 25.

HP on Sunday rejected Xerox's offer of $22 per share, saying it undervalued the company, and that it was open to exploring its own bid for the U.S. printer maker.

"We are confused by this reasoning in that your own financial adviser, Goldman Sachs & Co, set a $14 price target with a 'sell' rating for HP's stock after you announced your restructuring plan," Xerox wrote in its letter to HP.
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https://finance.yahoo.com/news/1-xerox-threatens-launch-hostile-144436214.html

Disclosure: I'm still long XRX January calls.

Always do your own due diligence. Never trade securities based on non-professional advice from the polka community.

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