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HP rejects unsolicited Xerox proposal

HP  has unanimously rejected the unsolicited proposal from Xerox to acquire the company.

John Visentin, Xerox Vice Chairman and CEO, said that HP's financial and legal advisors have unanimously concluded that it significantly undervalues HP and is not in the best interests of HP shareholders.

"In reaching this determination, the Board also considered the highly conditional and uncertain nature of the proposal, including the potential impact of outsized debt levels on the combined company’s stock. We have great confidence in our strategy and our ability to execute to continue driving sustainable long-term value at HP."



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