Xerox sweetens its takeover offer for HP
The two hardware giants have withered in a world increasingly driven by software
New York — Xerox Holdings on Monday increased its offer price for HP to $24 a share, boosting the bid by $2 a share in an effort to win control of the personal computer maker which has previously refused to engage in takeover talks because it said the offer was too low.
Xerox said it plans to launch a tender offer “on or about March 2” that comprises $18.40 in cash and 0.149 Xerox shares for each HP share. The offer will not be subject to any conditions related to financing or due diligence. The offer represents a 41% premium to HP’s 30-day volume weighted average trading price of $17, Xerox said...