Plus   Neg

Xerox Files Preliminary Proxy Statement Supporting Its Slate For Election At HP

Xerox Holdings Corp. (XRX) said that it is filing a preliminary proxy statement with the U.S. Securities and Exchange Commission in support of its slate of independent candidates to replace the board of directors of HP Inc. (HPQ) at HP's 2020 Annual Meeting of Stockholders.

Xerox said it urged HP stockholders to secure superior value by supporting Xerox's for $24.00 per share offer and electing Xerox's Slate of Director Candidates. But, recently, HP concluded that the unsolicited exchange offer from Xerox to acquire all outstanding common shares of HP is not in the best interests of the company's shareholders. The HP Board recommended that shareholders not tender their shares pursuant to the offer.

Following the expansion of HP's board slate from 11 to 12 members, Xerox today said it has provided notice to HP that it is adding ErrollDavis, Jr., former chairman and chief executive officer of Alliant Energy Corporation, to its existing slate of director nominees.

Xerox's slate now comprises 12 director candidates, including: Betsy Atkins, George Bickerstaff, Carolyn Byrd, Erroll Davis, Jeannie Diefenderfer, Kim Fennebresque, Carol Flaton, Matthew Hart, Fred Hochberg, Jacob Katz, Nichelle Maynard-Elliott and Thomas Sabatino, Jr.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The European Commission said Friday that it has signed a deal with Sanofi and GlaxoSmithKline to secure up to 300 million doses of their potential COVID-19 vaccine. Acella Pharmaceuticals recalled certain lots of hypothyroidism medication NP Thyroid in the form of tablets due to super potency, the U.S. Food and Drug Administration said in a statement. The company is recalling one lot of 15mg and one lot of 120mg of NP Thyroid that are packaged in 100 count bottles in strengths of 15 mg, and 120 mg, with expiration dates between October 2020 and November 2020. Walmart announced its decision to raise wages for around 165,000 hourly associates across all its U.S. stores starting October, and introduce a team-based operating model in Supercenters. In a tweet, the retail giant said, "Today we're introducing new leadership roles and cross-training opportunities, giving our associates more ways to grow their careers."
Follow RTT