Firstpost
  • Home
  • Video Shows
    Vantage Firstpost America Firstpost Africa First Sports
  • World
    US News
  • Explainers
  • News
    India Opinion Cricket Tech Entertainment Sports Health Photostories
  • Asia Cup 2025
Apple Incorporated Modi ji Justin Trudeau Trending

Sections

  • Home
  • Live TV
  • Videos
  • Shows
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Health
  • Tech/Auto
  • Entertainment
  • Web Stories
  • Business
  • Impact Shorts

Shows

  • Vantage
  • Firstpost America
  • Firstpost Africa
  • First Sports
  • Fast and Factual
  • Between The Lines
  • Flashback
  • Live TV

Events

  • Raisina Dialogue
  • Independence Day
  • Champions Trophy
  • Delhi Elections 2025
  • Budget 2025
  • US Elections 2024
  • Firstpost Defence Summit
Trending:
  • Nepal protests
  • Nepal Protests Live
  • Vice-presidential elections
  • iPhone 17
  • IND vs PAK cricket
  • Israel-Hamas war
fp-logo
HP shares fell 5 percent after rejecting Xerox's buyout bid, indicating counter offer
Whatsapp Facebook Twitter
Whatsapp Facebook Twitter
Apple Incorporated Modi ji Justin Trudeau Trending

Sections

  • Home
  • Live TV
  • Videos
  • Shows
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Health
  • Tech/Auto
  • Entertainment
  • Web Stories
  • Business
  • Impact Shorts

Shows

  • Vantage
  • Firstpost America
  • Firstpost Africa
  • First Sports
  • Fast and Factual
  • Between The Lines
  • Flashback
  • Live TV

Events

  • Raisina Dialogue
  • Independence Day
  • Champions Trophy
  • Delhi Elections 2025
  • Budget 2025
  • US Elections 2024
  • Firstpost Defence Summit
  • Home
  • Tech
  • News & Analysis
  • HP shares fell 5 percent after rejecting Xerox's buyout bid, indicating counter offer

HP shares fell 5 percent after rejecting Xerox's buyout bid, indicating counter offer

Reuters • November 18, 2019, 20:11:35 IST
Whatsapp Facebook Twitter

Xerox has a market value of $8.4 billion and HP is valued at nearly $30 billion.

Advertisement
Subscribe Join Us
Add as a preferred source on Google
Prefer
Firstpost
On
Google
HP shares fell 5 percent after rejecting Xerox's buyout bid, indicating counter offer

Shares of HP Inc fell as much as 5 percent on Monday after the personal computer maker rejected a buyout offer from Xerox Holdings Corp, and indicated it might instead make its own offer to take over the U.S. printer maker. [caption id=“attachment_5647151” align=“alignnone” width=“1280”] ![The Hewlett-Packard (HP) logo is seen as part of a display at the Microsoft Ignite technology conference in Chicago, Illinois. Image: Reuters](https://images.firstpost.com/wp-content/uploads/2018/11/HP-.jpg) The Hewlett-Packard (HP) logo is seen as part of a display at the Microsoft Ignite technology conference in Chicago, Illinois. Image: Reuters[/caption] HP stock has gained about 10 percent and those of Xerox around 7 percent since Nov. 5, when the first news reports surfaced on Xerox’s $33.5 billion cash-and-stock offer to buy bigger rival HP. The printer industry has been in decline for years as growth in purely electronic communication cuts the need for printed letters and documentation. Both HP and Xerox earn a chunk of their revenue from selling printers and related accessories. HP said in a statement on Sunday that it recognised the potential benefits of consolidation and added that with access to diligence information on Xerox it could quickly evaluate the merits of a potential transaction. Xerox has a market value of $8.4 billion and HP is valued at nearly $30 billion. “We continue to believe consolidation within the printing industry makes sense given a mature and secularly challenged end demand backdrop,” Credit Suisse analysts wrote in a client note. Activist investor Carl Icahn, who has a stake in Xerox, told the Wall Street Journal last week that he was not set on a particular structure for a deal with HP, as long as a combination is achieved. Icahn, who also owns shares in HP, is yet to issue a statement on the latest developments. In its letter to HP’s board, Xerox outlined about $2 billion in savings it said could be achieved within two years of the deal. “HP and Xerox’s portfolios are largely complementary given different focus areas, and see an opportunity for significant cost takeout if the two companies were to combine,” Credit Suisse said. HP shares were at $19.10 in premarket trading, while those of Xerox were down 4 percent at $37.38.

Tags
HP Xerox
End of Article
Latest News
Find us on YouTube
Subscribe
End of Article

Top Stories

Israel targets top Hamas leaders in Doha; Qatar, Iran condemn strike as violation of sovereignty

Israel targets top Hamas leaders in Doha; Qatar, Iran condemn strike as violation of sovereignty

Nepal: Oli to continue until new PM is sworn in, nation on edge as all branches of govt torched

Nepal: Oli to continue until new PM is sworn in, nation on edge as all branches of govt torched

Who is CP Radhakrishnan, India's next vice-president?

Who is CP Radhakrishnan, India's next vice-president?

Israel informed US ahead of strikes on Hamas leaders in Doha, says White House

Israel informed US ahead of strikes on Hamas leaders in Doha, says White House

Israel targets top Hamas leaders in Doha; Qatar, Iran condemn strike as violation of sovereignty

Israel targets top Hamas leaders in Doha; Qatar, Iran condemn strike as violation of sovereignty

Nepal: Oli to continue until new PM is sworn in, nation on edge as all branches of govt torched

Nepal: Oli to continue until new PM is sworn in, nation on edge as all branches of govt torched

Who is CP Radhakrishnan, India's next vice-president?

Who is CP Radhakrishnan, India's next vice-president?

Israel informed US ahead of strikes on Hamas leaders in Doha, says White House

Israel informed US ahead of strikes on Hamas leaders in Doha, says White House

Top Shows

Vantage Firstpost America Firstpost Africa First Sports
Latest News About Firstpost
Most Searched Categories
  • Web Stories
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Tech/Auto
  • Entertainment
  • IPL 2025
NETWORK18 SITES
  • News18
  • Money Control
  • CNBC TV18
  • Forbes India
  • Advertise with us
  • Sitemap
Firstpost Logo

is on YouTube

Subscribe Now

Copyright @ 2024. Firstpost - All Rights Reserved

About Us Contact Us Privacy Policy Cookie Policy Terms Of Use
Home Video Shorts Live TV