According to an HP regulatory filing, in negotiations with HP, Xerox CEO Visentin is said to have expressed concerns that Xerox was out of growth opportunities and must either expand through an acquisition or be acquired itself.
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Looking much further ahead, there’s one technology developed in great part by the printing industry that may revolutionize supply-chain diversification and security.
HP CEO Enrique Lores stated that as HP focuses on a contractual business model for home and office customers, it will have fewer but more profitable customers.
“… it’s abundantly clear the revised Xerox proposal meaningfully undervalues HP, creates significant risk and compromises the future of our company,” said HP CEO Enrique Lores.
“It is of paramount importance that John Visentin and his team are the surviving management of the combined company.”
Update: Xerox fires back.
With the raising of its acquisition offer for HP to $24 per share last week, Xerox firmly put the ball......
The push comes after Xerox increased its acquisition offer for HP last week by $2 to $24 per share, an offer it will make early next month.
This week we reported on Ricoh Company’s latest financial results – the period consisting of the last nine months of......
“We continue to … believe that the debt load of the combined entity would be burdensome.”
Sales generated by the Office Printing group decreased by 6.0 percent year-over-year.
Depending on the severity of the Coronavirus, Japanese companies, as well as HP Inc., Xerox, and Lexmark – are all now vulnerable to disruptions in their supply chains and sales in China, a key market, because of the crisis.
Fujifilm Holdings of Japan announced financial results for the first nine months of its fiscal year, with the first nine......
While enhancing its home and office offerings, HP also continues to move outside of these markets to pursue disruption in other industries – including industrial and commercial 2D printing, and industrial 3D-printing.
“Due to Mr. Icahn’s ownership position (in both Xerox and HP), he would disproportionately benefit from an acquisition of HP by Xerox at a price that undervalues HP.”
“We believe HP shareholders will be better served by a new slate of independent directors who understand the challenges of operating a global enterprise and appreciate the value that can be created by realizing the synergies of a combination with Xerox.”