Having been rebuffed by HP Inc, Xerox is taking its bid for HP shareholders with a presentation entitled “Xerox + HP: A value-creating combination”.In that document, John Visentin, Vice Chairman and CEP of Xerox, wrote that the value of the transcation goes beyond economics.
“In consolidating industries, first movers not only win but also have an opportunity to reshape the competitive landscape in an eduring way,” he added as he “strongly encouraged HP shareholders to urge HP’s board of directors to pursue this transaction on a friendly basis, starting with the provision of mutual due diligence.”
Xerox is offering US$33.5b for HP, worth up to an implied value of US$31 per share — about 50 percent above HP’s current stock price.
According to the document, “this is a compelling proposal that immediately increases the value of your investment in HP and acheives long overdure industry consolidation that spurs efficiencies of scale and growth.”
The ball’s in HP shareholders’ court with the deal being a tempting early Christmas present.