Deals
Xerox Escalates HP Takeover Fight With Push to Replace Board
- Copy maker nominates 11 executives from Aetna, United and more
- HP accuses activist investor Icahn of being driving force
HP Inc. headquarters in Palo Alto, California.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Xerox Holdings Corp. said it intends to nominate 11 directors to replace the board of HP Inc. after the personal-computer maker refused to engage in takeover talks, according to a statement Thursday.
The iconic printer maker hasn’t increased its $22-a-share takeover offer after HP rejected its proposal, which it argues undervalues the company. Instead, Xerox will seek to replace HP’s entire board through a proxy fight to push the merger through.