The HP Board of Directors has unanimously rejected Xerox's purchase offer on the grounds that of offer "significantly undervalues" the company, Euwid writes.
In a letter Xerox Vice Chairman and CEO John Visentin, the HP Board of Directors stated that the company had reviewed the proposal and unanimously concluded that HP was significantly undervalued.
"We recognise the potential benefits of consolidation and are open to examining whether a possible combination with Xerox would add value for HP shareholders," the letter said, as quoted by Euwid.
