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In an escalating war of words between the global print giants, HP has rejected Xerox’s threat of a $33.5 billion hostile takeover by questioning Xerox’s ability to raise the cash portion of the proposed deal. “It is clear in your aggressive words and actions that Xerox is intent on forcing a potential combination on opportunistic terms and without providing adequate information,” HP said in a letter on Sunday. However, HP did not close the door on a possible deal, adding: “We remain prepared to study the potential value of a combination."
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Liquidators of Port Melbourne sign company Adherettes are seeking to sell the business as a going concern and a number of potential buyers have already expressed interest.
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Xerox says it’s “determined” to pursue its proposed acquisition of HP and has threatened to take its $US33.5 billion buyout offer directly to HP shareholders if the HP board refuses to agree to “due diligence to support a friendly combination” before 25 November. HP has a market value of about $US27 billion, which is roughly three times the size of Xerox.
- Hits: 2034
The operators of Sydney print finishing business Mega Tabs have back-paid Korean migrant workers $229,564 and been penalised $18,144 following Fair Work Ombudsman court action.
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Sign company Skope Group via its associated company Clear Skies Pty Ltd, trading as Scream Visual, was recently in the news following its administration and DOCA resurfacing, leaving around $2.3 million in debts. Now DI Sign Group of Mordialloc, Victoria has sought a winding up order, set down for hearing on December 10th in the Supreme Court of Victoria.
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Family-owned corporate signage specialist Adherettes has gone into liquidation after more than 40 years in business. The company remained open on Wednesday morning as liquidators decided the next step.
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HVG Graphics Media has announced the first round of winners in its Splash into Summer competition being run in conjunction with 3M Colour. Prizes include a spectacular seaplane adventure, a dining experience, and a night's stay at one of Australia's most stunning ocean retreats.
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Former IPMG chairman Michael Hannan is the new head of the region’s biggest print company Ovato following the sudden resignations of former chairman Matthew Bickford-Smith and director Terry Sinclair.
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Australia’s only manufacturer of printing and packaging papers has welcomed the Victorian Government’s plans for a new $110 million plantation industry in Gippsland. Australian Paper says bushfires and environmental pressures are threatening the future viability of the regional industry.
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FESPA says momentum is building for its inaugural Sportswear Pro - a new exhibition dedicated to sportswear manufacturing technology that will run alongside the flagship FESPA Global Print Expo 2020 from 24 to 27 March in Madrid.
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Outdoor advertising company oOh!media has rejected a report in The Australian newspaper that said the company may be the subject of a management buyout and be delisted from the Australian Stock Exchange (ASX).
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HP says Xerox's proposed $33.5 billion takeover offer "significantly undervalues" the company but says it’s “open to exploring whether there is value to be created for HP shareholders through a potential combination with Xerox.”
- Hits: 2598
Ricky Richards has launched two new products, the printable backlit textile Artist Mambo Direct-Tex and the blackout textile be.tex Directo FR.
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The 50th edition of global textiles trade fair Heimtextil (7-10 January 2020 in Frankfurt, Germany) will showcase “more sustainable products than ever before,” say organisers Messe Frankfurt. Around 3000 international exhibitors will present their latest innovations at the show, which will include an extended range of digital print technology for the textile industry.
- Hits: 2250
Esko extended its Kongsberg digital cutting table range with the launch of the new Kongsberg X Edge, a fully upgradeable table design offering “productivity, flexibility and best in class reliability” to display, signage and packaging converters.
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