While Xerox had a lot to say earlier this week about its efforts to acquire HP, Palo Alto-based HP says anyone waiting for its response to Xerox’s nearly $35 billion buyout offer will have to remain patient for almost two more weeks.
HP said it will hold off on saying anything more about Xerox’s offer until Feb. 24, at which time HP will report its fiscal first-quarter results, and provide “additional information” about its business plans. HP said in a statement sent to this news organization that it wants its shareholders “to have full information on the company’s earnings and the value inherent in the company” before it replies to Xerox’s latest acquisition offer.
HP has so far rejected all of Xerox’s offers over the last three months. One of the main issues HP has cited for its balking at Xerox is that it believes Xerox’s terms undervalued HP so much that a deal wasn’t possible. As of Wednesday morning, HP had a market capitalization of more than $33 billion, while Xerox’s market value was $8.17 read the rest here