• Email More Options Modal Window

  • HP Issues Statement Addressing Market Speculation

    PALO ALTO, Calif., November 6, 2019 HP Inc. (NYSE: HPQ) today issued the following statement:

    As reviewed at HPs most recent Securities Analyst Meeting, we have great confidence in our multi-year strategy and our ability to position the company for continued success in an evolving industry, particularly given the multiple levers available to drive value creation.

    Against this backdrop, we have had conversations with Xerox Holdings Corporation (NYSE: XRX) from time to time about a potential business combination. We have considered, among other things, what would be required to merit a transaction. Most recently, we received a proposal transmitted yesterday.

    We have a record of taking action if there is a better path forward and will continue to act with deliberation, discipline and an eye towards what is in the best interest of all our shareholders.

    Forward-Looking Statements
    This news release contains forward-looking statements that involve risks, uncertainties and assumptions. If the risks or uncertainties ever materialize or the assumptions prove incorrect, the results of HP and its consolidated subsidiaries may differ materially from those expressed or implied by such forward-looking statements and assumptions.

    All statements other than statements of historical fact are statements that could be deemed forward-looking statements, any projections of the amount, timing or impact of cost savings or restructuring and other charges; any statements of the plans, strategies and objectives of management for future operations, including, but not limited to, our sustainability goals, our go-to-market strategy, the execution of restructuring plans and any resulting cost savings, net revenue or profitability improvements; any statements concerning the expected development, performance, market share or competitive performance relating to products or services; any statements regarding current or future macroeconomic trends or events and the impact of those trends and events on HP and its financial performance; any statements regarding pending investigations, claims or disputes; any statements of expectation or belief, including with respect to the timing and expected benefits of acquisitions and other business combination and investment transactions; and any statements of assumptions underlying any of the foregoing.

    Risks, uncertainties and assumptions include the need to address the many challenges facing HPs businesses; the competitive pressures faced by HPs businesses; risks associated with executing HPs strategy and business model changes; successfully innovating, developing and executing HPs go-to-market strategy, including online, omnichannel and contractual sales, in an evolving distribution and reseller landscape; successfully competing and maintaining the value proposition of HPs products, including supplies; the impact of macroeconomic and geopolitical trends and events; the need to manage third-party suppliers, manage HPs global, multi-tier distribution network, limit potential misuse of pricing programs by HPs channel partners, adapt to new or changing marketplaces and effectively deliver HPs services; challenges to HPs ability to accurately forecast inventories, demand and pricing, which may be due to HPs multi-tiered channel, sales of HPs products to unauthorized resellers or unauthorized resale of HPs products; the protection of HPs intellectual property assets, including intellectual property licensed from third parties; risks associated with HPs international operations; the development and transition of new products and services and the enhancement of existing products and services to meet customer needs and respond to emerging technological trends; the execution and performance of contracts by HP and its suppliers, customers, clients and partners; the hiring and retention of key employees; integration and other risks associated with business combination and investment transactions; the results of the restructuring plans, including estimates and assumptions related to the cost (including any possible disruption of HPs business) and the anticipated benefits of the restructuring plans; the impact of changes in tax laws, including uncertainties related to the interpretation and application of the Tax Cuts and Jobs Act of 2017 on HP's tax obligations and effective tax rate; the resolution of pending investigations, claims and disputes; and other risks that are described in HPs Annual Report on Form 10-K for the fiscal year ended October 31, 2018, and HPs other filings with the Securities and Exchange Commission.

    HP assumes no obligation and does not intend to update these forward-looking statements. HPs Investor Relations website at http://investor.hp.com contains a significant amount of information about HP, including financial and other information for investors. HP encourages investors to visit its website from time to time, as information is updated, and new information is posted.

    About HP Inc.
    HP Inc. (NYSE: HPQ) creates technology that makes life better for everyone, everywhere. Through our product and service portfolio of personal systems, printers and 3D printing solutions, we engineer experiences that amaze. More information about HP Inc. is available atwww.hp.com.