https://www.mercurynews.com/2020/02/24/hp-launches-huge-stock-buyback-plan-in-effort-to-fend-off-xerox/

HP said Monday that Xerox’s proposed $34 billion acquisition attempt was “flawed” and “irresponsible” as the PC and printing company laid out what it called a value creation plan that includes returning billions of dollars to its shareholders.

HP announced the plan after the close of stock market trading Monday. The company said it would return $16 billion to its shareholders over the next three years, including repurchases of $15 billion of HP stock. HP said $8 billion worth of those stock repurchases would occur in the 12 months following its next annual shareholders meeting. The company hasn’t yet set a date for its annual meeting, but it usually holds such meetings in April.