The following appears on cnbc.com, by Emma Newburger
- The board said the offer from Xerox undervalues HP and is not in the best interest of shareholders.
- Xerox had offered HP $22 per share in its takeover bid for the company. The bid consists of 77% cash and 23% stock, or $17 in cash and 0.137 Xerox share for each HP share.
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SOURCE CNBC
