According to WSJ, HP (HPQ) approached by Xerox Holdings Corporation (XRX)

  • November 6, 2019

POTENTIAL DEAL DETAILS

StockHP Inc.SymbolHPQ
Date Announced11/05/2019Source Wall Street Journal
TypeNews Report

Xerox Holdings Corp. (XRX) has set its sights on a takeover of personal-computer and printer maker HP Inc. (HPQ), an audacious move that would unite two fading stars of technology.

Update(s):

November 10, 2019: Xerox Holdings Corp. (XRX) is prepared to offer HP Inc. (HPQ) almost a month for the companies to examine each other’s books as it seeks to win over the computer and printer maker for a takeover offer, according to people familiar with the matter.

November 17, 2019: HP Inc. (HPQ) rejected a $33 billion takeover offer from Xerox Holdings Corp. (XRX) as too low, but the PC and printer maker made clear it is interested in discussing a deal to combine with its smaller rival.

December 09, 2019: Xerox Holdings Corp. (XRX) believes its proposed HP Inc. (HPQ) takeover would create as much as $1.5 billion in potential revenue growth, according a presentation to HP’s shareholders made public Monday

January 06, 2020: Xerox Holdings Corp. (XRX) said Monday it has secured financing for its takeover offer for HP Inc. (HPQ), a sign the printer-and-copier company is pushing forward with an unsolicited $33 billion bid that its larger rival has resisted.

February 10, 2020: Xerox Holdings Corporation (XRX) today announced its intention to launch a tender offer on or around March 2, 2020 for all of the outstanding shares of common stock of HP Inc. (HPQ)  at a price of $24.00 per share, which will be comprised of $18.40 in cash and 0.149 Xerox shares for each HP share.

February 17, 2020: U.S. printer maker Xerox Holdings Corp (XRX)  is hosting a dinner for HP Inc (HPQ)  shareholders this week as it seeks investor support to overcome the personal computer maker’s resistance to its $35 billion takeover bid, according to people familiar with the matter.

March 03, 2020: U.S. printer maker Xerox Holdings Corp (XRX) took its $35 billion bid for HP Inc (HPQ) to the U.S. personal computer maker’s shareholders on Monday, with a formal tender offer and a rebuttal to HP’s account of why they could not negotiate a deal.

March 05, 2020: HP Inc. (HPQ) today announced that its Board of Directors, after consultation with its independent financial and legal advisors, has concluded that the unsolicited exchange offer from Xerox Holdings Corporation (XRX) to acquire all outstanding common shares of HP for consideration consisting of cash, Xerox common stock, or a combination thereof is not in the best interests of HP shareholders.

March 10, 2020: Xerox Holdings Corporation (XRX) today announced that it is filing a preliminary proxy statement with the United States Securities and Exchange Commission (“SEC”) to seek approvals from its shareholders related to the issuance of Xerox shares in connection with its offer to acquire HP Inc. (HPQ).

March 31, 2020: Xerox Holdings Corp. (XRX) ended its hostile takeover bid for HP Inc. (HPQ) because of uncertainty stemming from the Covid-19 pandemic, marking a blow to the photocopier company’s efforts to stimulate future growth.

Disclaimer: Our intent with this section of the website is to present potential deals that appear to be in the pipeline. These potential deals are ones where i) the company has indicated that it is "seeking strategic alternatives", ii) there has been an unsolicited bid for a company as mentioned in a press release by the company or iii) news about the deal has been published by a leading news organization like The Wall Street Journal, The New York Times, Bloomberg, Financial Times, The Washington Post, Reuters and The Associated Press. As best as possible we will try to avoid baseless rumors. There is a high probability that many of these potential deals may not materialize and if they do, the terms of the deal may be different from what was initially reported. Please do your own due diligence before buying or selling any securities mentioned on this website. We do not warrant the completeness or accuracy of the content or data provided.