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HP & Xerox

HP/Xerox merger update

  • Xerox nominated 11 directors to HP Inc’s board, the Wall Street Journal reported
  • Xerox is looking to gain control of HP to force acceptance of $33.5 billion takeover offer
  • Nominees include:
    • Betsy Atkins, CEO of Baja Corporation, a venture capital firm
    • George Bickerstaff, managing director of M.M. Dillon & Co., a leading healthcare and technology boutique investment bank
    • Carolyn Byrd, CEO of GlobalTech Financial
    • Jeannie Diefenderfer, CEO of consulting firm courageNpurpose
    • Kim Fennebresque, former CEO of Cowen Group
    • Carol Flaton, former managing director at AlixPartners, a global consulting firm
    • Matthew Hart, former COO of Hilton Hotels
    • Fred Hochberg, former COO of Lillian Vernon Corporation
    • Jacob Katz, former chairman of Grant Thornton audit, tax and advisory firm
    • Nichelle Maynard-Elliott, former Executive Director at Praxair
    • Thomas Sabatino, Jr, former EVP of Aetna Insurance
  • HP responded by stating; “We believe these nominations are a self-serving tactic by Xerox to advance its proposal, that significantly undervalues HP and create meaningful risk to the detriment of HP shareholders”

 

HP receives wave of customer complaints

  • A tweet published on January 17 has eventually gone viral, fueling a new wave of criticism aimed against HP
  • Ryan Sullivan posted on Twitter:
    • “Last month I canceled a random charge for $4.99 per month from HP called “InstantInk”. Wasn’t sure what it was for. I’ve had it for over a year but had no idea what it did. I just found out what it did,” he tweeted, along with a HP software notification reading “Cartridge cannot be used until printer is enrolled in HP Instant Ink.”
    • “Apparently HP remotely disabled perfectly good ink cartridges because I don’t pay a monthly fee?”
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