Defending against Xerox, HP doubles down on share buybacks, cost cuts
Share:
(Reuters) - HP Inc said on Monday it would step up efforts to slash costs and buy back stock, as it seeks investor support to defend against a $35 billion takeover offer from U.S. printer maker Xerox Holdings Corp .The announcement came after Xerox raised its cash-and-stock bid for HP earlier this month by $2 to $24 per share, ahead of a tender offer it plans to launch in early March. It is also asking HP shareholders to replace HP's board directors with Xerox's nominees at the company's annual..