Nov 17, 2019

HP rejects Xerox takeover offer

HP logo outside its corporate headquarters.

Photo: Justin Sullivan/Getty Images

HP said on Sunday that its board has unanimously rejected a $33 billion takeover offer from Xerox, believing the bid undervalued HP and included too much uncertainty and debt.

The bottom line: Both companies have been shrinking, with HP in the midst of large layoffs and Xerox seeing its revenue decrease nearly 10% year-over-year.

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