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Xerox secures $24 billion for HP takeover, approaches shareholders directly 

Xerox has engaged in "constructive dialogue" with many of HP's largest shareholders CEO John Visentin told the Board on January 6

January 07, 2020 / 08:02 PM IST

Xerox Holdings Corporation, on January 7, said that it had secured funds of $24 billion of the $33.5 billion proposed for its takeover of HP Inc, as per a Reuters report.

HP, however, has resisted the $33.5-billion offer made in November, which comes in at $22 per shares, on grounds that it significantly undervalues the company.

Xerox has thus approached HP shareholders directly to engage in “constructive dialogue”, CEO John Visentin informed HP’s board in a letter on January 6.

"My offer stands to meet with you in person, with or without your advisors, to begin negotiating this transaction," Visentin’s letter stated.