Xerox sweetens bid for HP to $24 a share

The company said on Monday that the new bid comprises $18.40 in cash and 0.149 Xerox shares for each HP share.

The previous offer was made in November 2019 but was unanimously rejected by HP’s board for undervaluing the business.

Xerox said: "Xerox has met, in some cases multiple times, with many of HP’s largest stockholders. These stockholders consistently state that they want the enhanced returns, improved growth prospects and best-in-class human capital that will result from a combination of Xerox and HP."