With declining sales and hostile bid for HP

The gloves are off as two of the biggest names in print are now in a battle for control, with Xerox aiming at making a hostile takeover of HP, following the latter's rejection  of its initial $33bn bid. Xerox is launching its bid for a company that is more than three times its size, with a cash and shares offer.The price is still be less than HP's year high in 2019. The HP board accuses Xerox of “aggressive words and actions”, and questions the ability of Xerox to raise the cash for the deal.

Caral Icon has large stake in Xerox and HP

It says the deal significantly undervalues HP, and says it will place “an outsized debt” on the merged business - around $20bn. HP goes on to say it has concerns about both the short term and long term viability of Xerox. HP and Xerox are two of the biggest suppliers to the global commercial print industry. HP will have the biggest stand at drupa next year, and Xerox won't be far behind. A combined business would be the largest printing suppler  company in the world. Industry sources have said that HP had approached Xerox about taking it over after a failed FujiFilm attempt at buying Xerox.