Xerox plans to replace HP board as takeover offer is rebuffed again
HP says the offer still undervalues it, with the push to replace the board marking an escalation of tensions between the two hardware giants
23 January 2020 - 18:14
New York — Xerox Holdings said it intends to nominate 11 directors to replace the board of HP after the PC maker refused to engage in takeover talks, according to a statement on 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...
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