HP Takes Weeks To Answer Xerox Bid

HP Takes Weeks To Answer Xerox

According to opi.net, HP will take up to two weeks to reply to the latest bid by Xerox. HP will not respond to Xerox’s hostile bid until on or after February 24, 2020.

“We are going to have to wait” for HP’s response to Xerox’s improved offer to acquire the print and PC giant. HP has said it won’t respond to Xerox’s latest proposal until the publication of its first-quarter earnings on February 24. opi.net states HP has gone into “a ‘quiet period’ until that date and limited as to what information it could share to the market.”

Xerox added US$2 to its original bid taking its offer to $24 a share. Xerox claims it has met with HP shareholders and is confident its March 2 offer will be well received. Xerox bypassed the HP board on this occasion.

“We believe it is essential that our shareholders have full information on our earnings and the value inherent in our business before responding to Xerox,” said HP CEO Enrique Lores in an internal memo in which he also encouraged all staff to listen to the conference call.

What do you think about Xerox’s latest bid for HP shares? Should HP Takes Weeks To Answer Xerox? Do you think they will be successful? Should HP reject it?

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