12 February 2020
Xerox Increases Offer For HP
ROCHESTER . NEW YORK—
Sales have declined by 6% in 2019
Sales have declined by 6% in 2019
Xerox has raised its offer to buy Hewlett Packard by $2 to $24 per share this week, following several rejections of its previous buyout offer by HP. . Xerox’s initial bid for HP, in November 2019, was rejected by HP which felt it undervalued the business and was not in the best interests of its shareholders. In January 2020, Xerox obtained $24 billion in  financing commitments to support the proposed buy out.
Largest exhibitor at this years Drupa
Largest exhibitor at this years Drupa
HP rejected the proposal and later that month Xerox nominated a slate of directors to HP’s board to be voted on by HP’s shareholders at its annual meeting. Earlier this year, HP called Xerox “a company of questionable value” after the business reported a 6.2% revenue drop for 2019. Serious questions have been raised on what would happen to HP's R&D if the deal went through. 
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