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Could HP get acquired by Xerox ?

Following reports, HP confirms it has received a proposal from Xerox about being acquired

Could HP get acquired by Xerox ?

The Wall Street Journal (paywall) reported that Xerox is interested to acquire rivals HP for $30 billion. HP have confirmed this by issuing a public statement.

"As reviewed at HP’s most recent Securities Analyst Meeting, we have great confidence in our multi-year strategy and our ability to position the company for continued success in an evolving industry, particularly given the multiple levers available to drive value creation. Against this backdrop, we have had conversations with Xerox Holdings Corporation (NYSE: XRX) from time to time about a potential business combination. We have considered, among other things, what would be required to merit a transaction. Most recently, we received a proposal transmitted yesterday. We have a record of taking action if there is a better path forward and will continue to act with deliberation, discipline and an eye towards what is in the best interest of all our shareholders."

What it does tells us that HP would be at the very least considering it before they say no outright. This deal comes as surprise given that HP has a way more higher market cap value at $29 billion as opposed to Xerox that's just under $10 billion. The small fish is certainly eating in the big pond!

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