{"id":113669,"date":"2020-04-02T22:00:41","date_gmt":"2020-04-03T02:00:41","guid":{"rendered":"http:\/\/rbach.net\/?p=113669"},"modified":"2021-08-15T17:05:06","modified_gmt":"2021-08-15T21:05:06","slug":"xerox-ends-hostile-bid-for-hp","status":"publish","type":"post","link":"https:\/\/rbach.net\/index.php\/xerox-ends-hostile-bid-for-hp\/","title":{"rendered":"Xerox Ends Hostile Bid for HP"},"content":{"rendered":"<p><a href=\"https:\/\/americaexplained.wordpress.com\/2010\/12\/27\/stick-a-fork-in-it\/\" target=\"_blank\" rel=\"Bid Ends HP Hostile Xerox for noopener noreferrer\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-113719\" title=\"Xerox Ends Hostile Bid for HP\" src=\"https:\/\/i0.wp.com\/rbach.net\/wp-content\/uploads\/fork-small-e1585877142275-150x141.jpg?resize=110%2C103&#038;ssl=1\" alt=\"Xerox Ends Hostile Bid for HP\" width=\"110\" height=\"103\" srcset=\"https:\/\/i0.wp.com\/rbach.net\/wp-content\/uploads\/fork-small-e1585877142275.jpg?resize=150%2C141&amp;ssl=1 150w, https:\/\/i0.wp.com\/rbach.net\/wp-content\/uploads\/fork-small-e1585877142275.jpg?resize=75%2C71&amp;ssl=1 75w, https:\/\/i0.wp.com\/rbach.net\/wp-content\/uploads\/fork-small-e1585877142275.jpg?w=250&amp;ssl=1 250w\" sizes=\"auto, (max-width: 110px) 100vw, 110px\" \/><\/a>The <strong><a title=\"Xerox\" href=\"http:\/\/www.xerox.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Xerox<\/a><\/strong> (<a title=\"NYSE | XRX\" href=\"https:\/\/www.tradingview.com\/symbols\/NASDAQ-XRX\/\" target=\"_blank\" rel=\"noopener noreferrer\">XRX<\/a>) drama to <strong>take over <a title=\"HP\" href=\"http:\/\/www.hp.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">HP<\/a><\/strong> (<a title=\"NYSE : HPQ\" href=\"https:\/\/www.nyse.com\/quote\/XNYS:HPQ\" target=\"_blank\" rel=\"noopener noreferrer\">HPQ<\/a>) has come to an <strong>whimpering end<\/strong>. The Norwalk, CT copier company ended it $35B hostile takeover bid for the larger HP on March 31, 2020. The copier manufacturer said that it will formally <strong>withdraw its tender offer<\/strong> and proposed <strong>slate of directors to replace HP&#8217;s board<\/strong> as I <a href=\"https:\/\/wp.me\/p2wgaW-t0D\" target=\"_blank\" rel=\"noopener noreferrer\">outlined<\/a> on the <em><a href=\"https:\/\/rbach.net\/\" target=\"_blank\" rel=\"noopener noreferrer\">Bach Seat<\/a><\/em>. Xerox says they gave up because of <strong><a href=\"https:\/\/www.barrons.com\/articles\/m-a-deals-plunge-amid-the-coronavirus-crisis-51585681640\" target=\"_blank\" rel=\"noopener noreferrer\">uncertainty stemming<\/a> from the<a href=\"https:\/\/www.statista.com\/chart\/21326\/coronavirus-border-closures\/?utm_source=Statista+Global\" target=\"_blank\" rel=\"noopener noreferrer\"> Covid-19<\/a><\/strong> pandemic.\u00a0 In a <a href=\"https:\/\/www.news.xerox.com\/news\/Xerox-provides-update-on-proposal-to-acquire-HP\" target=\"_blank\" rel=\"noopener noreferrer\">presser<\/a> they said, <em>The current global health crisis and resulting macroeconomic and market turmoil caused by Covid-19 have created an environment that is not conducive to Xerox continuing to pursue an acquisition of HP Inc<\/em><\/p>\n<p style=\"text-align: center;\"><em><strong><a href=\"https:\/\/web.archive.org\/web\/20240728154520\/https:\/\/www.cdc.gov\/coronavirus\/2019-ncov\/prevent-getting-sick\/prevention.html?CDC_AA_refVal=https%3A%2F%2Fwww.cdc.gov%2Fcoronavirus%2F2019-ncov%2Fprepare%2Fprevention.html\" target=\"_blank\" rel=\"noopener noreferrer\">Stay safe out there!<\/a><\/strong><\/em><\/p>\n<p><strong>Related article<\/strong><\/p>\n<ul>\n<li><a href=\"https:\/\/dealbreaker.com\/2020\/04\/xerox-drops-hp-bid\" target=\"_blank\" rel=\"noopener noreferrer\">COVID-19 Kills Beautiful Dream Of Having Heavily-Indebted Company Borrow More To Buy Company Three Times Its Size<\/a>\u00a0(<a href=\"https:\/\/dealbreaker.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Dealbreaker<\/a>)<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><em><a title=\"Ralph Bach\" href=\"https:\/\/rbach.net\/index.php\/new-resume\/\" target=\"_blank\" rel=\"noopener noreferrer\">Ralph Bach<\/a>\u00a0has been in IT long enough to know better and has blogged from his\u00a0<a title=\"Bach Seat\" href=\"https:\/\/rbach.net\/\" target=\"_blank\" rel=\"noopener noreferrer\">Bach Seat<\/a> about IT, careers, and anything else that catches his attention since 2005. You can follow him on <a class=\"broken_link\" href=\"http:\/\/www.linkedin.com\/in\/rb48334\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">LinkedIn<\/a>,\u00a0<a href=\"https:\/\/www.facebook.com\/ralph.bach.14\" target=\"_blank\" rel=\"noopener noreferrer\">Facebook<\/a>,\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/rbach48334\" target=\"_blank\" rel=\"noopener noreferrer\">Twitter<\/a>. Email the Bach Seat\u00a0<a href=\"mailto:\/\/bach.seat@gmail.com\" target=\"_blank\" rel=\"noopener noreferrer\">here<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Xerox ends HP hostile takeover drama citing financial uncreativity due to COVID pandemic<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[32],"tags":[3397,32,3419,168,904,3259,828,1774],"class_list":["post-113669","post","type-post","status-publish","format-standard","hentry","category-business","tag-3397","tag-business","tag-covid-19","tag-hp","tag-hpq","tag-mergers-and-acquisition","tag-xerox","tag-xrx"],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 4.9.8 - aioseo.com -->\n\t<meta name=\"description\" content=\"Xerox ends HP hostile takeover drama citing financial uncreativity due to COVID pandemic\" \/>\n\t<meta name=\"robots\" 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