COVID-19 Prompts Xerox to Delay Face-to-Face Meetings on HP Buy
Xerox will prioritize the health and safety of its employees, customers, partners and affiliates above other considerations, “including its proposal to acquire HP,” said CEO John Visentin Friday. His company will delay releases of presentations, media interviews and meetings with…
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HP shareholders to focus on resources to protect the company’s various stakeholders from the coronavirus pandemic. Xerox offered to buy HP for $24 a share Feb. 10, a price “not in the best interest of HP shareholders,” says HP CEO Enrique Lores (see 2002250008). Xerox “does not consider the market decline since the date of its offer” -- or the temporary suspension of trading in HP shares Tuesday and Thursday as a result of marketwide circuit breaker procedures -- to constitute a failure of any condition to its offer to acquire HP,” said the company.