Own HP Stock? Just Take the Money and Run
Last month, I called aging tech titan HP (NYSE: HPQ) a buy, not necessarily anticipating Xerox (NYSE: XRX) would try to acquire it, but because Xerox's interest highlighted HP's value. If Xerox sees potential upside in HP at its current price, investors should too.
It's become clear in the meantime that HP's Board of Directors isn't interested, or at least not interested in Xerox's current offer of $22 per share in cash and stock. On the flip side, it doesn't appear the Carl Icahn-led suitor is ready to take "no" for an answer. Xerox responded to HP's second rejection letter on Nov. 26 with even firmer plans to take its buyout case directly to shareholders rather than to HP's board of directors -- in other words, a hostile takeover.
Source Fool.com
