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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.

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