Advances and Reaffirms Tender Offer to Acquire All Outstanding Shares of HP for $24 Per Share in Cash and Stock
Xerox today also reaffirmed its tender offer to acquire all outstanding shares of HP for $24.00 per share, comprising $18.40 in cash and 0.149 Xerox shares for each HP share. As a result of market-wide circuit breakers procedures implemented by the NYSE on March 9, 2020, the trading of HP shares was temporarily suspended. For the avoidance of doubt, Xerox does not consider this temporary trading halt to constitute a failure of any condition to its offer to acquire HP.
Citi is acting as Xerox’s financial advisor, and King & Spalding LLP is providing legal counsel to Xerox. Willkie Farr & Gallagher LLP is providing legal counsel to Xerox’s independent directors, and Moelis & Company is acting as financial advisor to Xerox’s independent directors.
For additional details on the offer, the benefits of the transaction to both companies’ stockholders, and the Xerox management team, please visit www.XplusHP.com.
Xerox Holdings Corporation (NYSE: XRX) makes every day work better. We are a workplace technology company building and integrating software and hardware for enterprises large and small. As customers seek to manage information across digital and physical platforms, Xerox delivers a seamless, secure and sustainable experience. Whether inventing the copier, Ethernet, the laser printer or more, Xerox has long defined the modern work experience. Learn how that innovation continues at xerox.com.