By Josh Beckerman

 

HP Inc. (HPQ), responding to Xerox Holdings Corp.'s (XRX) plans to replace HP's board, said there are "numerous opportunities available to HP to drive sustainable long-term value," including the company's strategic plan and buybacks of its "significantly undervalued stock."

HP said, "Xerox's proposed transaction attempts to use HP's financial capacities for the benefit of Xerox shareholders."

Xerox, which has offered to buy to HP, said earlier Thursday that "HP shareholders have told us they believe our acquisition proposal will bring tremendous value."

 

Write to Josh Beckerman at josh.beckerman@wsj.com

 

(END) Dow Jones Newswires

January 23, 2020 14:25 ET (19:25 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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