Xerox Releases Statement Related to COVID-19 and its Proposal to Acquire HP
NORWALK, Conn. — Xerox Holdings Corporation
(NYSE: XRX) (“Xerox”) today issued the following statement:
“In light of the escalating COVID-19 pandemic, Xerox needs to prioritize the health and safety of its employees, customers, partners and affiliates over and above all other considerations, including its proposal to acquire HP,” said John Visentin, Xerox vice chairman and chief executive officer. “As we closely monitor reports from government and healthcare leaders across the globe and work with colleagues in the business community to minimize the spread and impact of the virus, we believe it is prudent to postpone releases of additional presentations, interviews with media and meetings with HP shareholders so we can focus our time and resources on protecting Xerox’s various stakeholders from the pandemic.”
For the avoidance of doubt, Xerox does not consider the market decline since the date of its offer or the temporary suspension of trading in HP shares that occurred on March 10, 2020 and March 12, 2020 as a result of market-wide circuit breakers procedures to constitute a failure of any condition to its offer to acquire HP. Xerox will take the same view on any future temporary trading halts, unless otherwise stated in advance.
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.
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.
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Belinda McDonald has worked internationally in the U.S., South America, and Europe, offering innovative business techniques to Fortune 500 companies as well as SMBs. She has achieved in the manufacturing industry, copier parts distribution, POS printer hardware/software distribution, media intelligence, and marketing. McDonald’s broad industry knowledge, combined with the disciplines learned while earning her degree in Communications from Louisiana State University, has boosted her recognition as a person who has a finger on the pulse of the office technology space. She is the Communication and Events Manager for ITEX.
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