Xerox Holdings Corp. is continuing its effort to take over HP Inc. by launching a tender offer to acquire all of the company”™s outstanding shares for $24 per share.
The offers include $18.40 in cash and 0.149 Xerox shares for each HP share. Xerox added the offer and withdrawal rights are scheduled to expire at 5:00 p.m. EDT on April 21, unless the offer is extended.
“Our proposal offers progress over entrenchment,” said John Visentin, CEO and vice chairman at Xerox. “HP shareholders will receive $27 billion in immediate, upfront cash while retaining significant, long-term upside through equity ownership in a combined company with greater free cash flow to invest in growth and return to shareholders.”
