T-Mobile US, the US mobile operator, announced Monday the resignation of its chief executive John Legere, which will take effect on April 30. The CEO will be replaced by Mike Sievert.
HP Inc. rejected a Xerox acquisition offer of more than $33 billion. The US PC and printer maker has ruled the proposal at $22 per stock too low, citing concerns about the potential combined entity’s indebtedness or, more simply, Xerox’s position in the US. HP, however, remains open to exploring a merger, but, according to Group CEO Enrique Lores and President Chip Bergh, some fundamental issues need to be discussed. HP’s management has been insisting on eroding the earnings of its small predator Xerox since 2018, which weighs on the prospects for a possible new set.
HP, a California group with a major position in the printer market, wants access to Xerox copier designer accounts before going further on the subject. Connecticut’s Xerox group offered $17 in cash and 0.137 Xerox shares for each HP stock, for a total transaction value of $33.5 billion. Carl Icahn, an activist investor now in the capital of both firms (he acquired 4.2% of HP), believes HP is undervalued and supports a merger.
SunExpress is going to buy more B-737 MAX 8s, despite uncertainties about the aircraft’s release date, which has been grounded since March after two deadly air crashes. The Turkish company exercised an option to acquire 10 additional aircraft from Boeing. The agreement, worth $1.2 billion, will allow the carrier to renew its fleet and continue its expansion.
Ford Motor has reacted little to the launch of its first all-electric vehicle, a new version of its iconic Ford Mustang. This is an SUV called Mach-E, referring to the 1969 Mustang Mach 1, which will be marketed in late 2020 from $45,000 in the United States. This first all-electric vehicle sold by Ford is positioned in the segment of high-end electric, currently dominated by Tesla with its Model S and Model X. The Mustang Mach-E is in pre- order online as of Monday, paying $500 down payment (1,000 euros in France).
