Xerox threatens to go hostile with HP buyout offer


(Reuters) – Xerox Corp (XRX.N) on Thursday threatened to go hostile with its $33.5 billion buyout offer for HP Inc (HPQ.N), if the personal computer maker did not agree to a “friendly” discussion before Nov. 25.

HP on Sunday rebuffed Xerox’s $22 per share offer, saying it undervalued the company and that it was open to exploring a bid for the U.S. printer maker.

“Xerox will take its compelling case to create superior value for our respective shareholders directly to your shareholders,” the company said in a letter to HP’s board.

Reporting by Supantha Mukherjee in Bengaluru