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HP rejects Xerox
Source: AP |
00:05 UTC+8 November 19, 2019
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Print Edition
Print Edition
HP Inc says its board has rejected a roughly US$33.5 billion takeover offer from Xerox. The Palo Alto, California-based company said on Sunday the cash and stock deal undervalues its business and its board cited concerns about “outsized” debt levels should the companies combine. HP said it recognizes the potential benefits of consolidation and remains open to other options with Xerox. Both companies have faced difficulties as demand for printed documents and ink falls.
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