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U.S. printer maker Xerox walked away from its $35 billion hostile cash-and-stock bid for HP on Tuesday, after the coronavirus outbreak weighed on its campaign to take over the PC and printing equipment manufacturer.
Reuters
HP on Thursday rejected Xerox's raised takeover bid of about $35 billion, saying it undervalued the personal computer maker.
Reuters
Xerox has boosted its offer to acquire HP to $24 per share, or about $34 billion.
CNBC
Office equipment makers to become rivals in Asian markets
Nikkei Asian Review
"We plan to engage directly with HP shareholders to solicit their support in urging the HP Board to do the right thing and pursue this compelling opportunity," Xerox CEO John Visentin writes.
CNBC
Hewlett-Packard Inc.'s Board of Directors has unanimously rejected a bid to be acquired by Xerox, though it did not completely shut down an effort by Xerox to merge the two aging former tech giants.
CNN
Xerox offers HP $22 a share in takeover bid, sources say.
CNBC
Xerox and HP combining forces is probably not a far-fetched idea, CNBC's Jim Cramer says.
CNBC
The iconic US printer and copier company announced the move in a statement late Sunday, saying it had reached a new agreement with activist investors Carl Icahn and Darwin Deason, who had bitterly opposed the Fujifilm deal. The Japanese company said it disputes Xerox's "unilateral decision" and doesn't think the US company has the legal right to ax the deal.
CNNMoney
The boss of Xerox and six board members will step down after the firm reached a deal with major shareholders who opposed a takeover by Japan's Fujifilm. Investors Carl Icahn and Darwin Deason, who together own 15% of Xerox, argued that the US$6.1m merger undervalued the company.
BBC News