Business Management - M&A
On this episode of The Week that Was, Xerox intends to nominate a replacements for HP's Board of Directors, HP responds; Hederman Brothers Printing acquires Service Printers; and 10 ideas to help printers nail down a marketing strategy.
HP issued this statement after Xerox announced its intent to nominate 11 new board members at HP’s 2020 Meeting of Stockholders.
Xerox’s nominees were chosen based on their expertise overseeing and executing company transformations and combinations.
The companies will reportedly form the largest privately-owned printing, direct mail, and large-format signage company in Mississippi.
The acquisition of German industrial ink manufacturer RUCO Druckfarben is expected to be finished by the end of the first half of 2020.
The acquisition adds expanded finishing equipment expertise to the production print division of EO Johnson Business Technologies.
The transaction is aligned with TC Transcontinental’s strategy to continue growing in the in-store marketing product printing vertical.
The result of the merger, Continental BizMag, is positioned as one of the largest plastic card & magnet printing companies in the US.
Despite Xerox lining up $24 billion in financing, HP’s board claims the acquisition offer significantly undervalues what HP is worth.