Xerox considers takeover offer for HP: Report | HT Tech

Xerox considers takeover offer for HP: Report

Xerox’s board reportedly discussed the possibility of acquiring PC maker HP on Tuesday. There is no confirmation on either side as of now.

By: REUTERS
| Updated on: Nov 06 2019, 18:52 IST
The company logo for Xerox is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 11, 2019.
The company logo for Xerox is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 11, 2019. (REUTERS)

Xerox Holdings Corp is considering making a cash-and-stock offer for personal computer maker HP Inc at a premium to its market value of about $27 billion (£21 billion), the Wall Street Journal reported on Tuesday.

Xerox's board discussed the possibility on Tuesday, the newspaper said, citing people familiar with the matter. There is no guarantee that Xerox will follow through with an offer or that one would succeed, it added.

You may be interested in

MobilesTablets Laptops
7% OFF
Apple iPhone 15 Pro Max
  • Black Titanium
  • 8 GB RAM
  • 256 GB Storage
28% OFF
Samsung Galaxy S23 Ultra 5G
  • Green
  • 12 GB RAM
  • 256 GB Storage
Google Pixel 8 Pro
  • Obsidian
  • 12 GB RAM
  • 128 GB Storage
Apple iPhone 15 Plus
  • Black
  • 6 GB RAM
  • 128 GB Storage

Norwalk, Connecticut-based Xerox has also received an informal funding commitment from a major bank, the Journal said.

Also read
Looking for a smartphone? To check mobile finder click here.

HP does not comment on rumours or speculation, a company spokeswoman told Reuters. Xerox did not respond to a Reuters' request for comment.

On Monday, Xerox had said it will sell its 25% stake in Fuji Xerox, its joint venture with Fujifilm Holdings, for $2.3 billion, after investor activism scuppered a deal involving the two companies.

Xerox had scrapped its $6.1 billion deal to merge with Fujifilm last year after lobbying by two of its main investors, Carl Icahn and Darwin Deason. HP has been struggling with its printer business segment recently, with the division's third-quarter revenue dropping 5% on-year.

In October, it had announced a plan to cut up to 9,000 jobs as part of a restructuring programme aimed at cutting costs.

Catch all the Latest Tech News, Mobile News, Laptop News, Gaming news, Wearables News , How To News, also keep up with us on Whatsapp channel,Twitter, Facebook, Google News, and Instagram. For our latest videos, subscribe to our YouTube channel.

First Published Date: 06 Nov, 18:52 IST
Tags:
NEXT ARTICLE BEGINS