HP says Xerox offer still 'significantly undervalues' company

HP Inc said on Wednesday that Xerox Holdings Corp securing financing for its $33.5 billion takeover offer for the personal computer maker does not address its key concern of being "undervalued".

"Your letter dated January 6, 2020 regarding financing does not address the key issue – that Xerox's proposal significantly undervalues HP – and is not a basis for discussion," the company said in a letter to Xerox.

The U.S.-based printer maker had said on Monday it secured $24 billion in financing for the takeover offer, a deal that HP is opposing.