LATEST PRINT INDUSTRY NEWS

 

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Xeikon highlights robustness in the face of crisis

27 May 2020

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27 May 2020

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20 May 2020

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2 Apr 2020

Xerox has withdrawn its offer to acquire HP in light of the current COVID-19 situation. In an earlier statement Xerox said that it would only be postponing the takeover bid. 

With the announcement, Xerox drops its US$34 billion bid for HP Inc. 

In a statement it said:

“The current global health crisis and resulting macroeconomic and market...

18 Mar 2020

Xerox has issued a statement that it is putting its HP pursuit on hold amidst the current COVID-19 pandemic. To that end, the company is postponing meetings with HP shareholders.

“In light of the escalating COVID-19 pandemic, Xerox needs to prioritize the health and safety of its employees, customers, partners and affiliates over and abo...

9 Mar 2020

HP unanimously rejects Xerox’s official tender. 

Last week, Xerox officially launched a tender offer HP’s outstanding shares at $24 per share.

HP’s board has already returned with its unanimous recommendation to shareholders to not tender shares in the Xerox offer. HP returned with the recommendation in three days, initially asking for 10...

6 Mar 2020

Canon will cut off ties with HP should Xerox’s acquisition happen, according to its CEO and Chairman Fujio Mitarai in an interview with Nikkei Asian Review.

Canon has a 35-year partnership with HP, of which Mitarai said that the foundation has been based on a “relationship of trust between top management” of both companies and “is not so...

3 Mar 2020

Xerox has officially made a tender offer to acquire all of HP’s outstanding shares. The deal values HP share at $24 each, or about $34 billion in total. The value comprise of $18.40 in cash and 0.149 Xerox shares for each HP share. HP shareholders are invited to tender their shares before 5pm New York City Time on 21 April 2020.

“Our pro...

27 Feb 2020

As Xerox 'wine and dines' HP shareholders, HP makes its own promises.

HP announced a multi-year strategic and financial value creation plan to benefit its shareholders. In this plan, HP is promising to return some USD$16 billion to its shareholders during fiscal 2020 to fiscal 2022. This represents about 50% of HP’s current market c...

11 Feb 2020

The Xerox vs HP saga continues.

Xerox announced its intention to launch a tender offer in March for HP Inc., at a price of $24 per share. This raises its original offer from $22.

The offer will comprise $18.40 in cash and 0.149 Xerox shares for each HP share. Xerox will launch the offer on or around 2 March.

The increased offer was in resp...

10 Feb 2020

Komori Corporation to acquire equity stake in Germany-based MBO Group, aims to make it a subsidiary.

Komori Corporation announced it has signed a basic agreement with the MBO Group regarding the acquisition of a 100% equity stake in the latter with the aim of making it a Komori subsidiary. MBO is a global company based in Germany that sp...

28 Jan 2020

Xerox goes for HP in hostile takeover bid.

Xerox intends to nominate 11 independent candidates to replace HP’s Board of Directors at HP’s 2020 Annual Meeting of Stockholders.

The candidates include former senior executives from companies such as Aetna, United Airlines, Hilton Hotels, Novartis, Verizon and more.

“HP shareholders have told u...

17 Jan 2020

Following Xerox’s announcement of securing US$24 billion in financing commitments, HP has once again rejected Xerox’s takeover bid.

The rejection was done via a letter from HP chairman Chip Bergh and CEO Enrique Lores to Xerox CEO John Visentin, stating the financing does not “address the key issue that Xerox’s proposal significantly und...

8 Jan 2020

Xerox announced to HP Inc. in a letter to its Board of Directors confirming that it has obtained USD$24 billion in binding financing commitments from Citi, Mizuho and Bank of America to complete its combination with HP.

In the letter, Xerox addressed concerns HP’s shareholders has over Xerox’s ability to finance the acquisition.

Citi is a...

8 Jan 2020

Includes acquisition of Chinese folder-gluer company

Bobst Group SA & Yancheng Hongjing Machinery Technology Co., Ltd


Shanghai Eternal Machinery Co., Ltd, Shanghai/China (“Eterna”), a member of Bobst Group, acquired 70% of the equity of Yancheng Hongjing Machinery Technology Co., Ltd, Dongtai/China. 

The transaction, which was closed...

19 Nov 2019

Upon its dispute resolution with Fujifilm, Xerox made a bold move on its competitor, HP Inc.

It offered USD$22-a-share, resulting in a total of $33.5 billion to acquire HP.

HP’s board of directors unanimously rejected the bid. In a letter to Xerox, HP cited the proposal as “unsolicited”, and deemed it significantly undervaluing to HP, and...

5 Nov 2019

After receiving approval from antitrust authorities, Toppan completes the acquisition of the Germany-based Interprint group.

The agreement between Toppan Printing Co., Ltd. and Wrede Industrieholding GmbH & Co. KG (WREDE) to acquire 100% of Interprint GmbH has been approved by the relevant antitrust authorities without conditions.

Interpr...

24 Jul 2019

EFI announced the completion of its previously announced acquisition by an affiliate of Siris for approximately $1.7 billion.
 
In connection with the closing of the transaction the company, which will continue to operate as Electronics For Imaging (EFI), will be wholly owned by an affiliate of Siris, and EFI’s common shares will be del...

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