Xerox said Monday it was raising its offer for computer and printer maker HP to some $36 billion as part of an effort to win over shareholders amid a heightened battle for control of the Silicon Valley firm.
The new offer from the imaging and copying giant is around 10 per cent higher than the bid launched last year and rejected by the HP board of directors.
Xerox said in a statement it already has support from some large HP shareholders who "want the enhanced returns, improved growth prospects and best-in-class human capital that will result from a combination of Xerox and HP."
"Due to Mr. Icahn's ownership position, he would disproportionately benefit from an acquisition of HP by Xerox at a price that undervalues HP."
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app