Xerox offers to take over PC, Printing giantHP Inc.

As reported in the Wall Street Journal, Xerox, in a surprise bid, has offered to takeover HP Inc. for about $30 billion USD. HP acknowledged there are ongoing discussions between the two companies and that it received an offer letter from Xerox. In a statement issued by HP, it said,: “As reviewed at HP’s most recent Securities Analyst Meeting, we have great confidence in our multi-year strategy and our ability to position the company for continued success in an evolving industry, particularly given the multiple levers available to drive value creation.

Against this backdrop, we have had conversations with Xerox Holdings Corporation (NYSE: XRX) from time to time about a potential business combination. We have considered, among other things, what would be required to merit a transaction. Most recently, we received a proposal transmitted yesterday.

We have a record of taking action if there is a better path forward and will continue to act with deliberation, discipline and an eye towards what is in the best interest of all our shareholders.”

On the digital production printing side of the market, how HP Indigo and HP's PageWide web press inkjet printing operations would couple with Xerox's current digital toner- and inkjet-based product lines would remain to be seen.

Xerox has already secured an informal funding commitment from a major bank, WSJ reported.

Whether this will actually go through or not is another question altogether. Xerox is offering HP almost a month to consider the deal.


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