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Xerox in $33 billion bid for HP

07 November 2019 06:05 (UTC +04:00)

U.S. printer maker Xerox Holdings Corp has made a roughly $33 billion cash-and-stock offer for personal computer maker HP Inc, a company more than three times its size, people familiar with the matter said on Wednesday, APA reports quoting Reuters.

HP confirmed the bid, but declined to disclose the offer price. The companies have explored a combination from time to time, and HP will consider Xerox’s latest proposal “with an eye towards what is in the best interest of all our shareholders,” HP said in a statement.

Five days ago Enrique Lores, former president of HP’s imaging and printing business, officially took over as its chief executive.

Xerox’s stock has rallied under CEO John Visentin, who took over last year and resolved a long-running dispute with joint venture partner Fujifilm Holdings Corp.