Xerox stated in January 2020 that it would propose the replacement of HP's board of directors during its next shareholder meeting in April 2020. On November 26, 2019, Xerox issued a public letter defending allegations by HP that its offer was "uncertain" and "highly conditional", and declared its intent to "engage directly with HP shareholders to solicit their support in urging the HP Board to do the right thing and pursue this compelling opportunity." HP stated that there was "uncertainty regarding Xerox’s ability to raise the cash portion of the proposed consideration" (especially given that Xerox is a smaller company in terms of market cap than HP), and noted the company's aggressiveness. The company unanimously rejected two unsolicited offers, including a cash-and-stock offer at $22 per-share. On November 5, 2019, The Wall Street Journal reported that print and digital document company Xerox was contemplating acquiring HP. HP said the cash amount agreed was $40 per share, which implied a total enterprise value of $3.3bn, inclusive Poly's net debts. In March 2022, HP announced the acquisition of the California-headquartered communications software and hardware provider Poly Inc. In February 2022, HP announced it had acquired the Edinburgh-based packaging development company, Choose Packaging, in an effort to strengthen its capabilities in the sustainable packaging vertical. The deal only includes computer peripherals branded as HyperX, not memory or storage. In February 2021, HP announced its acquisition of Kingston's gaming division HyperX for $425 million. In November 2017, HP acquired Samsung Electronics' printer division for $1.05 billion. In May 2016, HP introduced a new PC gaming sub-brand known as Omen (reusing trademarks associated with VoodooPC), including gaming laptops and desktops (with the latter offering options such as CPU water cooling and Nvidia's GTX 1080 graphics, and promoted as VR-ready), and other accessories (such as monitors) designed to cater to the market. and the company's enterprise business was spun off and renamed Hewlett Packard Enterprise. On November 1, 2015, Hewlett-Packard was renamed to HP Inc. The company started off in the HP Garage in Palo Alto, California. Hewlett-Packard was founded in 1939 by Bill Hewlett and David Packard, who both graduated with degrees in electrical engineering from Stanford University in 1935. In the 2018 Fortune 500 list, HP is ranked 58th largest United States corporation by total revenue. It is the world's 2nd largest personal computer vendor by unit sales as of January 2021, after Lenovo. HP is listed on the New York Stock Exchange and is a constituent of the S&P 500 Index. retains Hewlett-Packard's pre-2015 stock price history and its former stock ticker symbol, HPQ, while Hewlett Packard Enterprise trades under its own symbol, HPE. The second spin off, Hewlett Packard Enterprise is a different publicly traded company. It was formed on November 1, 2015, a spinoff of the original Hewlett-Packard Company due to a bad partnership and merger with the company Autonomy, with that company's enterprise product and business services divisions becoming Hewlett Packard Enterprise. is an American multinational information technology company headquartered in Palo Alto, California, that develops personal computers (PCs), printers and related supplies, as well as 3D printing solutions.
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