HP Inc. again rejected the offer of Xerox Holdings Corp. on its takeover, stating that the proposed terms are characterized by a significant underestimation of its real value.
On Monday, Xerox said it had received $24 billion in funding to complete a potential deal to acquire a Palo Alto, California-based computer maker.
Xerox reportedly received funding from Citigroup Inc., Mizuho Financial Group Inc. and Bank of America Corp. The printer maker is offering HP a purchase of its assets for $22 per share, paid in cash and treasury shares.
The debt commitment "is not a basis for discussion," HP said in a letter to Xerox CEO John Visentin. "The HP Board of Directors remains committed to the best interests of all HP shareholders and the pursuit of the most rewarding opportunities," the company said in a letter.
Source: 3dnews.ru