Xerox Holdings plans takeover bid for HP

Xerox Holdings Corp. is looking to takeover personal-computer and printer maker HP Inc., according to a report in the Wall Street Journal published on 5 November 2019. Xerox is considering making a cash-and-stock offer for HP, which has a market value of about US$ 27 billion, people familiar with the matter told the newspaper. HP is more than three times the size of Xerox, and any bid would be at a premium to its current stock price, sources close to the development told the Wall Street Journal. Xerox, on 5 November, announced a deal to sell a 25% stake in Fuji Xerox Co., Ltd. to a subsidiary of Fujifilm. Total after-tax proceeds to Xerox from the transactions will include accrued but unpaid dividends through the date of the closings and are expected to be approximately US$ 2.3 billion. Xerox expects to use the proceeds opportunistically to pursue accretive mergers and acquisitions in core and adjacent industries. At the same time, it reportedly plans to return capital to shareholders and pay down its US$ 550 million December 2019 maturity…

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