Xerox has come up with a new bid to acquire HP. Xerox has boosted its offer to $24 per share, accounting for the final deal at $34 billion. The new offer would be comprised of $18.40 per share in cash and 0.149 Xerox shares per share of HP.
In November as well Xerox made an offer for acquisition. At that time, Xerox offered Xerox had offered HP $22 per share, or $33.5 billion, for acquisition. The bid consists of 77% cash and 23% stock, or $17 in cash and 0.137 Xerox share for each HP share.
Xerox wrote in a blog, “The tender offer announced today will enable these stockholders to accept Xerox’s compelling offer despite HP’s consistent refusal to pursue the opportunity.”
“Xerox’s offer provides HP stockholders with both significant, immediate cash value, and meaningful upside via equity ownership in the combined company”, the company added.