Xerox secures $24 billion to acquire HP
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 acting as Xerox’s financial advisor, and King & Spalding LLP is providing legal counsel to Xerox. Willkie Farr & Gallagher LLP is providing legal counsel to Xerox’s independent directors.
Simpson Thacher & Bartlett LLP is acting as legal counsel to Xerox in connection with the financing for the proposed acquisition of HP, and Cravath, Swaine & Moore LLP is acting as legal counsel to the financial institutions providing the financing.