https://techcrunch.com/2019/11/26/xerox-tells-hp-it-will-bring-takeover-bid-directly-to-shareholders/

Xerox fired the latest volley in the Xerox -HP merger letter wars today. Xerox CEO John Visentin wrote to the HP Board that his company planned to take its $33.5 billion offer directly to HP shareholders.

He began his letter with hostile tone befitting a hostile takeover attempt, stating that their refusal to negotiate defied logic. “We have put forth a compelling proposal – one that would allow HP shareholders to both realize immediate cash value and enjoy equal participation in the substantial upside expected to result from a combination. Our offer is neither “highly conditional” nor “uncertain” as you claim,” Visentin wrote in his letter.