January 22, 2020 / 3:18 AM / a month ago

Xerox to nominate as many as 11 directors to HP's board in acquisition push - WSJ

Jan 21 (Reuters) - Xerox Holdings Corp is preparing to nominate as many as 11 directors to HP Inc’s board, the Wall Street Journal reported on Tuesday, as the company seeks to push its $33.5 billion takeover offer for the personal computer maker.

In recent weeks, Xerox has bought a small stake in HP, the newspaper said here, citing sources.

The small stake would give Xerox the right to nominate directors for elections to be held at the HP’s annual meeting this summer, it added.

Both the companies did not immediately respond to Reuters’ requests for comment after regular business hours. (Reporting by Shubham Kalia in Bengaluru; Editing by Subhranshu Sahu)

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