8 January 2020
Xerox Gets $24 Billion to Finance HP Buyout
ROCHESTER . NEW YORK—
Target of highly levered Xerox buy out.
Target of highly levered Xerox buy out.
 Xerox Secures $24 Billion in Binding Financing Commitments for HP Acquisition. Xerox Holdings Corporation has sent a letter to the Board of Directors of HP Inc. confirming that it has obtained $24 billion in binding financing commitments from Citi, Mizuho and Bank of America to finance it's acquisition of Hewlett Packard ( HP) . HP voiced reservations including Xerox's  prospects,
With sagging sales and under pressure to do something
With sagging sales and under pressure to do something
given the $1 billion sales shrinkage , and the impact of "outsized debt levels" after a buy out by Xerox . HP had a market cap three times the size of Xerox at $27.27bn . Also a number of shareholder of Xerox are sueing  activist investor Carl Icahn alleging that he bought HP Inc shares with the knowledge that Xerox was considering buying the stock at a premium.
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