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HP Slams Xerox For Going 'Hostile': 5 Things To Know

The new letter from HP's board includes revelations about HP's declining interest in a merger with Xerox and HP's financial concerns about the Xerox proposal.

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HP's Interest In A Merger Is Waning

In its previous letter to Xerox, HP had sounded an optimistic tone about the possibility of merging with Xerox (under different terms than those offered by Xerox, of course). However, the latest letter from Visentin on Thursday appears to have eroded that optimism.

"When we were in private discussions with you in August and September, we repeatedly raised our questions; you failed to address them and instead walked away, choosing to pursue a hostile approach rather than continue down a more productive path," HP's board said in the letter. "But these fundamental issues have not gone away, and your now-public urgency to accelerate toward a deal, still without addressing these questions, only heightens our concern about your business and prospects."

Still, HP's board said that it remains "prepared to study the potential value of a combination and to work quickly to learn more about your business trajectory."

 
 
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