https://wccftech.com/xerox-hp-letter-investors-direct-offer/

The takeover bid by Xerox Holding Corporation (NYSE:XRX) against HP Inc (NYSE:HPQ) has heated up matters between the two companies over the course of this month after it was revealed that Xerox was willing to offer HP shareholders $22/share to sell their stake in the company. Last week Xerox CEO John Visentin, in a strongly worded letter, stated that if HP Inc's board of directors does not open the company's books for due diligence by the end of the day yesterday, then Xerox will take its offer directly to HP's shareholders.

A letter by HP's CEO and Chairman yesterday served to systematically dismantle Xerox's narrative against it. HP stated that Xerox itself is struggling to perform well, as the company has consistently missed on Wall Street's earnings estimates. The company's management went on to further state that Xerox's funding choices for the takeover offer will ensure that the new entity formed after the deal will take on serious debt.