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Xerox names Mary McHugh executive vice president, chief delivery and supply chain officer People on the Move 

Xerox names Mary McHugh executive vice president, chief delivery and supply chain officer

GaryPageau
Xerox Holdings Corp. appointed of Mary McHugh as executive vice president and chief delivery and supply chain officer. In her new role, she will report to Steve Bandrowczak, president and chief operations officer of Xerox. “Last year, we began working to implement a frictionless, high-velocity supply chain to increase flexibility and responsiveness and improve customer service,” said Bandrowczak. “By bringing... Read More
Xerox names Nicole Torraco as Senior Vice President, Chief Strategy and M&A officer Acquisitions People on the Move 

Xerox names Nicole Torraco as Senior Vice President, Chief Strategy and M&A officer

GaryPageau
Xerox Holdings Corp. appointed Nicole Torraco as senior vice president and chief strategy and M&A officer. In this newly created role, she reports to John Visentin, vice chairman and CEO of Xerox, and serves as a corporate officer. “Nicole brings a rare combination of financial acumen and entrepreneurship, with an impressive record of identifying strategic opportunities that deliver value,” said... Read More
Xerox reports improved earnings on lower sales for 2019 Earnings reports 

Xerox reports improved earnings on lower sales for 2019

GaryPageau , , , 1 Comment
Xerox Holdings Corp. announced full-year 2019 revenue dropped 6.7 percent to $9.07 billion, but saved $640 million under the “Project Own It” cost-savings plan, which contributed to improved earnings and cash flow. “We are delivering on our three-year plan. We grew earnings per share, increased cash flow and expanded adjusted operating margin for the full year, and we improved our... Read More
Updated: Xerox to nominate up to 11 for HP board seats Acquisitions News 

Updated: Xerox to nominate up to 11 for HP board seats

GaryPageau , ,
Xerox Corp. will nominate as many as 11 directors to the HP Inc. board, according to the Wall Street Journal. as the company pushes its unsolicited $33.5B takeover offer. The current HP board consists of 12 members, including chairman Chip Bergh, CEO and managing director Enrique Lores, and former CEO Dion Weisler. In a statement, Xerox nominated the following as board... Read More
Fuji Xerox ends tech deal with Xerox, to change name to FUJIFILM Business Innovation Corp. News 

Fuji Xerox ends tech deal with Xerox, to change name to FUJIFILM Business Innovation Corp.

GaryPageau , ,
Bringing an end a business arrangement dating back to 1962, Fuji Xerox Co. Ltd. announced it won’t renew the technology agreement with Xerox Corp. on the agreement’s expiration date, March 31, 2021. The agreement provides for technology/brand licenses and sales territories applicable to each company, the company said. The product supply agreement with Xerox will continue to be effective despite... Read More
Updated: Xerox secures $24 billion financing for HP takeover bid, HP responses with shrug News 

Updated: Xerox secures $24 billion financing for HP takeover bid, HP responses with shrug

GaryPageau ,
The leadership of Xerox Holdings Corp. on Jan. 6 sent a letter to the Board of Directors of HP Inc. confirming it has obtained $24 billion in binding financing commitments from Citi, Mizuho and Bank of America to complete its proposed merger with HP. HP has resisted overtures from Xerox. In response to the most recent letter, HP again rebuffed... Read More
Carl Icahn publishes letter blasting HP for “recalcitrance” in rejected Xerox offer Acquisitions News Opinion 

Carl Icahn publishes letter blasting HP for “recalcitrance” in rejected Xerox offer

GaryPageau , ,
Activist investor Carl Icahn posted an open letter to HP shareholders today, criticizing the HP Inc. board for rejecting Xerox Corp.‘s merger overtures. Icahn, who respectively owns about 10.85% of Xerox and 4.24% of HP, stated HP is going down the path forged by former foe Eastman Kodak Co., which is often criticized for wasting resources on a series of failed... Read More
Back at ya, HP! Xerox to take merger case to shareholders in hostile bid Acquisitions News 

Back at ya, HP! Xerox to take merger case to shareholders in hostile bid

GaryPageau ,
Xerox Inc. management has responded bruskly to HP‘s rebuff of its offer to combine the two printing giants. Earlier this week, HP rejected Xerox’s advances, citing what it said were Xerox’s declining fortunes and it’s own perceived bright prospects. In response, Xerox vice-chairman and CEO John Visentin says the refusal to engage in the process “defies logic.” Specifically, Visentin rejects... Read More
Xerox fires back to HP after rebuff of takeover offer Acquisitions News Opinion 

Xerox fires back to HP after rebuff of takeover offer

GaryPageau , 1 Comment
In what portends to the beginning of a contentious courtship, Xerox Holdings Corp. management responded harshly to the rejection of its proposal to acquire rival HP Inc. Xerox vice chairman and CEO John Visentin advised HP board members Enrique Lores and Chip Bergh, if a “friendly” merger agreement could not be reached quickly, Xerox would take it’s case directly to... Read More
HP board unanimously rejects Xerox takeover proposal Acquisitions News 

HP board unanimously rejects Xerox takeover proposal

GaryPageau , ,
The board of HP Inc. today announced it has unanimously rejected the unsolicited proposal from Xerox Holdings Corporation to acquire the company. Following is the full text of the letter that was sent on November 17, 2019 to John Visentin, Xerox Vice Chairman and CEO: Dear John, Our Board of Directors has reviewed and considered your unsolicited proposal dated November... Read More
Activist investor Carl Icahn backs Xerox in bid for HP Investments News 

Activist investor Carl Icahn backs Xerox in bid for HP

GaryPageau ,
Activist investor Carl Icahn, fresh from spoiling the merger between Xerox Corp. and Fujifilm, is now backing Xerox in a bid for HP Inc., according to an interview with The Wall Street Journal. The article states Icahn owns a 10.6% stake in Xerox and a previously undisclosed 4.24% position in HP worth roughly $1.2 billion. “I think a combination is... Read More
Breaking: Xerox considering bid for HP Acquisitions News Opinion 

Breaking: Xerox considering bid for HP

GaryPageau , , ,
The Wall Street Journal reports  Xerox Corp., fresh off of its divestiture of Fuji Xerox, is now considering using part of its $2.3 billion proceeds to buy rival HP Inc. Xerox is considering making a cash-and-stock offer for HP, which has a market value of about $27 billion, according to people familiar with the matter. The copier maker’s board discussed... Read More
Xerox sells stake in Fuji Xerox to Fujifilm for $2.3 billion Acquisitions News Opinion 

Xerox sells stake in Fuji Xerox to Fujifilm for $2.3 billion

GaryPageau , , 1 Comment
Xerox Holdings Corp., Norwalk, Conn., announced it entered into an agreement with Fujifilm Holdings Corp. and assorted subsidiaries to sell to Fujifilm its 25% state in Fuji Xerox Co. Ltd., putting an end to one of the most rancorous corporate divorces in recent memory.  The company also sold Xerox’s 51% stake in Xerox International Partners (XIP), an OEM joint venture... Read More