Nov 6, 2019

Xerox deliberates HP takeover

Rashaan Ayesh

Photo: James Leynse/Corbis/Getty Images

Xerox Holdings Corp. is considering a cash-and-stock offer to acquire personal computer and printer maker HP Inc., a deal that would restructure two giants as demand for printed documents declines, reports the Wall Street Journal.

Why it matters: HP and Xerox are in "cost-cutting mode, and a union could afford new opportunities to shed expenses," notes the Wall Street Journal. It's still not clear if the deal will go through, considering HP is three times the size of Xerox and hired a new chief executive last week, per the Journal.

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Dan Primack

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.

Keep ReadingArrowNov 17, 2019
Rashaan Ayesh

Report: Trump's new SNAP rules could push thousands off benefits

A volunteer packs boxes with food to be handed out to needy people. Photo: Justin Sullivan/Getty Images

The Trump administration is rolling out new rules in April 2020 that could cause 223,000 people to lose food aid benefits, The Wall Street Journal reports.

Why it matters: Officials say the rule will encourage more people to work. However, critics say this is another example of the Trump administration's "efforts to deepen hardships" of the poor while cutting congressional authority over assistance programs, the Wall Street Journal writes.

Go deeperArrowDec 4, 2019
Dan Primack

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