In Twist, Sources Say Xerox Now Considering Buying HP Inc.
For months, many of us had speculated that HP Inc. may buy Xerox. These speculations were based on Xerox investor Carl Icahn statements that Xerox should pursue other buyers besides Fujifilm – and should partner with a PC vendor – such as HP Inc. Meanwhile, former HP CEO Dion Weisler is said to have approached Xerox about a possible acquisition in late 2017, and both companies recently expanded a partnership.
This week however, according to The Wall Street Journal, Xerox, which stands to reap $2.3 billion from a pending sale of its 25-percent stake in Fuji Xerox to Fujiflm, may actually be considering purchasing HP.
According to the Journal, Xerox is considering making a $27 billion offer for HP. The Xerox board discussed the acquisition yesterday, people familiar with the matter told the Journal, who also said Xerox has an informal funding commitment from a major bank, and that the acquisition would save both companies about $2 billion.
Fueled by these reports, HP’s share price rose to $18.40. HP is said to be worth $27 billion, while Xerox is valued at $8 billion.
- November 2019: In Big Shakeup, Xerox to Exit Fuji Xerox Partnership
- November 2019: Fuji Xerox Will Continue to Supply Xerox, But Also Other OEMs
- October 2019: Fujifilm CEO Still Wants Xerox, But Will HP Beat Him to the Punch?
- June 2019: Fujifilm Not Worried About Expanded Xerox-HP Relationship
- October 2018: Court Overturns Injunctions That Blocked Proposed Fujifilm-Xerox Deal