Tag: Business Management – M&A

Amidst COVID-19 Backdrop, Xerox Calls Off $34.9B Hostile Takeover Attempt of HP (Includes Commentary)

Just as the COVID-19 outbreak created financial uncertainty on Wall Street and on Main Street, it has also put a deep freeze on impending M&A mega-deals. The novel coronavirus has scuttled Xerox Holdings’ $34.9 billion, $24 per share unsolicited, h…

The Target Report: The Lull Before the Tempest

The Target Report is usually a gestalt of the prior month’s transactional activity. However, given the seismic nature of the current crisis, the rear view mirror is less useful, so we’ll depart from our usual style this month, look backwards just a bit…

Amid Coronavirus Pandemic, Xerox Puts HP Hostile Acquisition Attempt on Back Burner

Perhaps facing the “perfect storm” of a global pandemic outbreak; a U.S. stock market response to COVID-19 that has pummeled Xerox and HP stock prices; and Canon’s announcement that it will sever business ties with HP if HP’s merger with Xerox comes to…

Mesirow Financial Advises Quad on the Sale of its Omaha Packaging Plant

Mesirow Financial acted as financial advisor to Quad/Graphics for the sale of its Omaha, Neb., packaging plant to Graphic Packaging Holding Company. This transaction is one of 125 within the paper, plastics, packaging, and speciality papers sectors tha…

The Target Report: Catching the Wave in Corrugated Cartons

The Welch Packaging Group acquired PAX Corrugated Products from Georgia-Pacific amid a trend of the company making corrugated acquisitions. This supports the trend of regional companies leapfrogging to an adjacent metro market via a series of strategic…

Xerox Officially Launches $35B Hostile Takeover Bid for HP Directed at HP Shareholders

As promised, on March 2 Xerox Holdings launched a $34.9 billion hostile takeover proxy bid to acquire HP Inc. for $24 per share, comprising $18.40 in cash and 0.149 Xerox shares for each HP share. The unsolicited “hostile takeover” offer and withdrawal…

Battle Between Xerox, HP Ramps Up With HP ‘Poison Pill’, $15B Stock Buyback Defense

On Feb. 20, the HP board of directors adopted a Shareholder Rights Plan (“Poison Pill”) to thwart Xerox’s planned hostile proxy bid to acquire all of the outstanding shares of HP stock on March 2 for $34.9 billion. In another defensive move, HP announc…

Resource Label Group Acquires Axiom Label & Packaging

Resource Label Group announced it has acquired label and packaging solutions supplier Axiom Label & Packaging, broadening its presence in California. Axiom represents the company’s sixth acquisition in California and will allow Resource Label Group…