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Xerox attempts to replace HP board
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 us they believe our acquisition proposal will bring tremendous value, which is why we lined up $24 billion in binding financing commitments and a slate of highly qualified director candidates,” said Xerox’s John Visentin.
“We believe HP shareholders will be better served by a new slate of independent directors who understand the challenges of operating a global enterprise and appreciate the value that can be created by realizing the synergies of a combination with Xerox.”
Get caught up:
- HP says no to Xerox's USD$335 billion bid
- Xerox secures USD$24 billion to acquire HP