HP Inc.’s board unanimously rejected Xerox Holdings Corp.’s unsolicited takeover offer, saying the $22-a-share offer is too low. Xerox’s letter said the offer remained open until Nov. 13. HP said its board made its decision the day it received Xerox’s letter. HP said it’s still open to discussing a merger. Advertisement“With substantive engagement from Xerox management and access to diligence information on Xerox, we believe that we can quickly evaluate the merits of a potential transaction,” Lores and Bergh wrote.

Source: Los Angeles Times November 17, 2019 19:41 UTC