Has anyone heard something more than rumors at this point?
Original Post
Replies sorted oldest to newest
During the last two weeks I have seen an increase of this rumor on the Internet. I think we will see a major announcement before the year is out that HP will buy IKON!
It would make sense, it's obvious all other efforts to make inroads into the copier world have failed miserably and perhaps after seeing Xerox buying Global to finally make the down the street work for them, HP sees the light.
I was at an HP onference recently where they explained that they currently have 5% of the TOTAL worldwide printing and imaging market.
Then they said, to get to 20%, we'd need to triple our staffing, meaning we'd have to hire 480,000 people. Obviously, we can't do that so we're looking to you (Channel Partners) to do it for us!
I mention this because "Buying the channel" is obviously another way to do that.
Then they said, to get to 20%, we'd need to triple our staffing, meaning we'd have to hire 480,000 people. Obviously, we can't do that so we're looking to you (Channel Partners) to do it for us!
I mention this because "Buying the channel" is obviously another way to do that.
Always give a second look at a company when they start to buy back their own stock!
IKON Office Solutions (NYSE: IKN) 23% HIGHER; announced that its Board of Directors has approved the repurchase of $500 million of its common stock. IKON intends to repurchase up to $295 million of its common stock through a modified "Dutch Auction" self-tender offer at a price of not less than $13 per share or more than $15 per share.
IKON Office Solutions (NYSE: IKN) 23% HIGHER; announced that its Board of Directors has approved the repurchase of $500 million of its common stock. IKON intends to repurchase up to $295 million of its common stock through a modified "Dutch Auction" self-tender offer at a price of not less than $13 per share or more than $15 per share.
Ikon Office Solutions Inc. said Wednesday it bought back $295 million of its own stock in its modified Dutch-auction tender offer, which ended at midnight EST, Dec. 19.
The Malvern, Pa., company accepted for purchase nearly 22.7 million shares at $13 per share in the offer.
The tender offer is part of Ikon's plan to repurchase $500 million of its stock in its current fiscal year, which ends next Sept. 30.
In a Dutch auction tender offer, a company determines how much of its stock it wants to repurchase and announces a range of prices it is willing to pay for the stock. Shareholders then tender their shares at any price within the range and the company picks the lowest price that allows it to buy the number of shares it wants and pays that price to all stockholders.
Ikon's range for its Dutch auction tender was $13 to $15.
Ikon (NYSE:IKN) is the world's largest independent distributor of copiers. It also distributes related office equipment and provides document-management services.
The Malvern, Pa., company accepted for purchase nearly 22.7 million shares at $13 per share in the offer.
The tender offer is part of Ikon's plan to repurchase $500 million of its stock in its current fiscal year, which ends next Sept. 30.
In a Dutch auction tender offer, a company determines how much of its stock it wants to repurchase and announces a range of prices it is willing to pay for the stock. Shareholders then tender their shares at any price within the range and the company picks the lowest price that allows it to buy the number of shares it wants and pays that price to all stockholders.
Ikon's range for its Dutch auction tender was $13 to $15.
Ikon (NYSE:IKN) is the world's largest independent distributor of copiers. It also distributes related office equipment and provides document-management services.