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HP adopts poison pill after Xerox's buyout attempts

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HP Inc said on Thursday it would implement a poison pill plan, a move that comes...

FILE PHOTO: A screen displays the logo for HP Inc. at the New York Stock Exchange in New York, U.S., November 18, 2019. REUTERS/Brendan McDermid

The implementation of the stockholder rights plan, which has a one-year expiration period, aims to stop investors from amassing more than 20% stake in the company. “The rights will not prevent a combination of HP with another business, but should encourage Xerox to negotiate with the Board prior to attempting to impose some combination that is not in the best interests of the HP shareholders,” HP said in its statement.“The value of a year-long poison pill is to buy HP time to explore other offers,” said Gene Munster, managing partner at Loup Ventures.

 

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