Xerox Raises Acquisition Offer For HP
Photocopier and printer giant Xerox (NYSE: XRX) has improved its bid to purchase computer and printer company HP (NYSE: HPQ). Previously offering $22 per share, the offer was increased to $24 per share on Tuesday, $18.40 of which would be passed along to HP shareholders as cash. The remainder would be in the form of Xerox shares, with each HP investor receiving 0.149 shares of Xerox for every one share of HP stock owned.
The development extends what's become a heated saga that first took shape in early November, when Xerox made its first official overture to the computer giant. That initial offer valued HP around $33.5 billion, and, like Tuesday's, was a mostly cash offer.
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Source Fool.com
