LONDON (ShareCast) - (Sharecast News) - Xerox will postpone meetings with HP shareholders as it concentrates its efforts on minimising the impact of the coronavirus pandemic.
Last week, HP rejected a sweetened, $24 a share offer from Xerox, arguing that it failed to "reflect the full value of HP's assets and its standalone strategic and financial value creation plan".

Xerox said in a statement on Friday that it in light of the escalating pandemic, it needs to prioritise the health and safety of its employees, customers, partners and affiliates over and above all other considerations, including its proposal to acquire HP.

Vice chairman and chief executive officer John Visentin, said: "As we closely monitor reports from government and healthcare leaders across the globe and work with colleagues in the business community to minimise the spread and impact of the virus, we believe it is prudent to postpone releases of additional presentations, interviews with media and meetings with HP shareholders so we can focus our time and resources on protecting Xerox's various stakeholders from the pandemic."

Xerox said it does not consider the market decline since the date of its offer or the temporary suspension of trading in HP shares that occurred on 10 and 12 March as a result of market-wide circuit breakers procedures, to constitute a failure of any condition to its offer to acquire HP.

"Xerox will take the same view on any future temporary trading halts, unless otherwise stated in advance."

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