Carl Icahn posted an open letter to HP shareholders Wednesday morning, trying to pressure the board of the computer and printer company to reverse its rejection of the $22-a-share bid for the company from Xerox. The activist investor is a substantial holder in both companies and sits on the Xerox board.
In the letter, Icahn attacks HP management’s “unreasonable refusal to engage in a customary mutual due diligence process”. He goes on to position the discussion as a matter of fiduciary responsibility and corporate democracy.
