HP rejects ‘hostile’ takeover bid

HP is once again rejecting Xerox’s attempt at a takeover

The printing corporation announced Sunday that it “will not consider combining with Xerox” until the copy making giant answers questions about how it plans to raise the cash portion of a potential deal.

“We are not dependent on a Xerox combination,” HP said, although the printing industry is flailing as digital products raise in popularity and hard copies fall out of favor.

In a letter to HP on Thursday, Xerox’s Vice Chairman and CEO John Visentin said the board “is determined to expeditiously pursue our proposed acquisition of HP to completion – we see no cause for further delay.”

Xerox gave HP five days to reconsider.


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