Business Management - Finance/Financial

The Xerox offer undervalues HP and disproportionately benefits Xerox shareholders, Chip Bergh, chair of HP’s board of directors, said. It would leave HP shareholders with an investment in a combined company that is burdened with an irresponsible level of debt and unrealistic, unachievable synergies.

The ongoing skirmish between R.R. Donnelley & Sons and Chatham Asset Management, its largest bondholder, is turning into a war over a Poison Pill.

2020 promises to be as turbulent a year as the industry has ever witnessed, with both growth and recession on the minds of economists.

As promised, on March 2 Xerox Holdings launched a $34.9 billion hostile takeover proxy bid to acquire HP Inc. The unsolicited "hostile takeover" offer will increase cash flow, Xerox contends, which would help pare debt, increase capital returns to shareholders, and drive greater investment in innovation.

The allegations against Jonathon Whitney, 47, include that he was skimming money off of sales, misusing a company credit card, stealing and recycling printing plates for their aluminum and pocketing the cash, and running his own printing business using Falls Printing’s resources.

Though communications between the boards of Xerox Holdings and HP Inc. have been quite bitter as HP continues to reject Xerox's buyout attempt, Xerox has now sweetened its offer. But will it make a difference?

HP called Xerox's intent to nominate 11 new board members "self-serving" and reaffirmed its commitment to its shareholders.

Xerox claims its $33.5 billion acquisition offer amounts to an implied value of $31 per share to HP shareholders, and says HP shareholders would own about 48% of the combined company. But HP's board of directors contends the offer is not high enough to bring HP to the bargaining table for due diligence discussions.

Xerox Holdings sent a letter to the Board of Directors of HP Inc. and issued a press release Jan. 6, confirming that it has obtained $24 billion in binding financing commitments from Citi, Mizuho, and Bank of America to complete its proposed $33.5 billion cash-and-stock offer to acquire HP Inc.

Printing Impressions' annual compilation of the 400 largest printing companies, as ranked by annual sales volume, serves as a microcosm of the key trends and market dynamics that are impacting the graphic arts industry.