Deals
Xerox Starts Tender Offer in Hostile Takeover Bid for HP
- Printer maker says deal would give HP investors $27 billion
- Executives of companies discussed possible merger in September
HP Inc. headquarters in Palo Alto, California.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Xerox Holdings Corp. has started a tender offer for all outstanding shares of HP Inc., escalating a battle for control of the personal computer giant that Xerox executives began considering almost 10 months ago.
Xerox has pitched HP investors on a cash-and-stock offer worth $24 a share. For each HP share, a holder would receive $18.40 in cash and 0.149 Xerox shares. The offer is set to expire April 21, Norwalk, Connecticut-based Xerox said Monday in a statement.