Xerox Responds to HP’s Poison Pill

Not to be outdone, Xerox fired back on HP’s shareholders plan: “The HP board clearly adopted a poison pill because our offer is receiving overwhelming support from their shareholders,” a spokesperson told Forbes.

“Regardless of what the company and its army of advisors announce Monday, we believe HP shareholders appreciate that the value we could create by combining Xerox and HP outweighs—and is incremental to—anything HP could achieve on its own,” Xerox said.

Previously, HP Inc. announced it is going to adopt a shareholder rights plan to slow Xerox’s hostile takeover bid, criticizing the printer maker for its “aggressive and rushed tactics” ahead of a proxy battle later this year where Xerox is trying to replace the entire HP board.

(Source: https://www.forbes.com/)

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