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Title    Xerox Withdraws Its Hostile Bid for HP, Citing ‘Current Global Health Crisis’
Date    Wednesday April 01 2020, @09:24PM
Author    martyb
Topic   
from the waiting-for-a-better-deal-or-holding-onto-assets-or??? dept.
https://soylentnews.org/article.pl?sid=20/04/01/1642242

wirelessduck writes:

https://www.barrons.com/articles/xerox-withdraws-hostile-bid-for-hp-citing-impact-of-coronavirus-51585688762

Xerox Holdings is withdrawing its hostile bid for HP Inc., the latest example of Covid-19's wide-ranging impact on markets.

Xerox (ticker: XRX) said Thursday afternoon that it will pull both its tender offer for HP (HPQ) shares and its proposed slate of directors for the HP board.

"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.," Xerox said in a statement. "Accordingly, we are withdrawing our tender offer to acquire HP and will no longer seek to nominate our slate of highly qualified candidates to HP's Board of Directors."

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