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Xerox To Launch Tender Offer For HP; Increased Offer Valued At $24.00/shr

Xerox Holdings Corp. (XRX) said it intends to launch a tender offer on or around March 2, 2020 for all of the outstanding shares of common stock of HP Inc. (HPQ) at a price of $24.00 per share, which will be comprised of $18.40 in cash and 0.149 Xerox shares for each HP share. Xerox stated that the tender offer will enable some of HP's largest stockholders to accept the company's offer despite HP's refusal.

The tender offer will be subject to being validly tendered and not withdrawn at least a number of shares representing a majority of the issued and outstanding shares of HP.

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