The printer company was"very surprised" to hear HP's board rejected the offer, and said HP's reply"lacks a clear path forward." Visentin noted that the takeover bid represents a 29% premium over HP's 30-day average trading price, and that fears of the purchase harming Xerox's financial stability are unfounded.
"The overwhelming support our offer will receive from HP shareholders should resolve any further doubts you have regarding the wisdom of swiftly moving forward to complete the transaction," Visentin wrote.