Nov 17, 2019

HP rejects Xerox takeover offer

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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Carl Icahn sued over HP/Xerox deal

Illustration: Sarah Grillo/Axios

A firefighters pension fund in Florida filed a lawsuit on Friday against billionaire investor Carl Icahn over allegations that he bought $1.2 billion of stock in HP after learning that Xerox Corp. wanted to buy HP at a premium, per Bloomberg.

Why it matters: Icahn already was Xerox's largest shareholder, with an 11% stake, and now is HP's fifth-largest shareholder. Xerox offered to buy HP for $33.5 billion, but was rebuffed and now plans to go hostile.

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Keep ReadingArrowDec 14, 2019

Pre-Thanksgiving Merger Monday sees over $60 billion in announced deals

Illustration: Sarah Grillo/Axios

It's been a while since we've had a full-fledged Merger Monday, but today we've seen over $60 billion in announced deals.

Why it matters: This isn't about a macro economic shift. It's about bankers and boards wanting to enjoy their Thanksgiving breaks, without constant cell phone pings.

Go deeperArrowNov 25, 2019

Charles Schwab in talks to buy TD Ameritrade

Photo: Smith Collection/Gado/Getty Images

Charles Schwab is in talks to buy TD Ameritrade, according to multiple media reports this morning.

Why it matters: This would create a discount brokerage behemoth with over $5 trillion in assets under management.

Go deeperArrowNov 21, 2019