HP’s board unanimously rejected Xerox’s unsolicited takeover proposal, saying the $22/share offer is too low and citing concerns about the smaller rival’s prospects in the printing industry.
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Xerox is prepared to offer HP almost a month for the companies to examine each other’s books as it seeks to win over the computer and printer maker for a takeover offer.
HP’s board is still deliberating over a $33-billion takeover proposal from Xerox, people familiar with the matter said, adding uncertainty to a potential blockbuster deal that would reshape the printing industry.
HP has confirmed that Xerox has made a takeover offer, a potential deal between two iconic names in technology that would reshape the printing industry.
Xerox is considering a cash-stock offer for the PC giant HP, a deal that could combine two of the biggest American names in office hardware.
Mark Hurd, who was CEO of three major technology companies including Oracle, has died. He was 62.
HP will slash as much as 16% of its workforce as part of a broad restructuring meant to cut costs and boost sales growth amid the company’s first change in top leadership in four years.
Back in the day, PCs were hip and investors chased computer stocks to sky-high valuations. Everyone was buying a desktop, and then a laptop, and the companies that supplied them could do no wrong.
The decades-old supply chain is starting to split in two: one beyond China’s borders that serves American concerns, and another within the world’s most populous country that caters to local consumers.
HP laptop maker Inventec said it will to shift production of notebooks for the US market out of China within months, adding to the tech industry’s exodus as the world’s two largest economies escalate their trade war.