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Xerox makes hostile buyout bid for HP

Nov 28, 2019 19:16 IST

Xerox has threatened HP of a hostile takeover by taking its $33.5 billion offer directly to its rival's shareholders. In an open letter to HP, Xerox CEO John Visentin, said that the company’s refusal of engagement 'defies logic'. Earlier, HP’s board rejected a second bid and accused Mr Visentin of significantly undervaluing the company. With shrinking market, Xerox aims to merge with HP to 'create an industry leader.'

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