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Xerox Reportedly Offered to Acquire Rival, 3x it's Market Value

Nov 06, 2019 03:03 PM
Xerox Reportedly Offered to Acquire Rival, 3x it's Market Value Africa Business Radio, Xerox, HP, Printer, Africa Business News, Wall Street Journal


Xerox is planning to make a cash-and-stock offer for personal-computer and printer maker HP, the Wall Street Journal reported late Tuesday evening. The company’s board discussed the possibility on Tuesday, people familiar with the matter told the Journal, adding that Xerox has an informal funding commitment from a major bank. late Tuesday evening. The company’s board discussed the possibility on Tuesday, people familiar with the matter told the Journal, adding that Xerox has an informal funding commitment from a major bank. Xerox, which makes printers and copiers, has a market cap of $8.05 billion, less than a third of HP’s $27.27 billion market value. A spokesperson at HP said the company “doesn’t comment on rumors.” Representatives from Xerox were not immediately available to respond to CNBC’s emailed request for comments. As both companies look to cut costs, sources told the Journal that combining the companies could save more than $2 billion in expenses.

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