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Strategies & Market Trends : Speculating in Takeover Targets
CTG 8.490+0.8%Sep 17 4:00 PM EDT

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From: E_K_S11/26/2019 11:16:10 AM
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Xerox going hostile in HP bid
Nov. 26, 2019 11:14 AM ET|About: Xerox Holdings Corporation (XRX)|By: Brandy Betz, SA News Editor

Xerox ( XRX -0.1%) confirms it will take its takeover bid to HP's ( HPQ -1.1%) shareholders.

The initial letter threatening to go hostile gave HP a November 25 deadline for agreeing to mutual confirmatory due diligence.

Key quote from the new letter: "We plan to engage directly with HP shareholders to solicit their support in urging the HP Board to do the right thing and pursue this compelling opportunity."

On Sunday, HP rejected Xerox's $22/share offer, saying the amount "significantly undervalues HP."
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