Xerox Files Preliminary Proxy Statement for Special Meeting to Approve Share Issuance in HP Transaction
Xerox announced March 10, 2020, that it is filing a preliminary proxy statement with the United States Securities and Exchange Commission (SEC) to seek approvals from its shareholders related to the issuance of Xerox shares in connection with its offer to acquire HP Inc.
Xerox expects to call a special meeting at which Xerox shareholders will consider proposals to amend the Xerox charter to increase the number of authorized shares of Xerox common stock and to approve, for purposes of New York Stock Exchange (NYSE) rules, the issuance of Xerox shares in connection with a combination with HP. Xerox will announce both the record and meeting dates for the special meeting prior to sending the definitive proxy statement.
Xerox also reaffirmed its tender offer to acquire all outstanding shares of HP for $24.00 per share, comprising $18.40 in cash and 0.149 Xerox shares for each HP share. As a result of market-wide circuit breakers procedures implemented by the NYSE on March 9, 2020, the trading of HP shares was temporarily suspended. For the avoidance of doubt, Xerox does not consider this temporary trading halt to constitute a failure of any condition to its offer to acquire HP.
The preceding press release was provided by a company unaffiliated with Printing Impressions. The views expressed within do not directly reflect the thoughts or opinions of the staff of Printing Impressions.