Xerox Is Ending Hostile Takeover Bid for HP

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Xerox Holdings Corp. is pulling the plug on its hostile bid to buy larger rival HP Inc. after the coronavirus pandemic undermined the copier maker’s ability to pull off the debt-laden merger.

Xerox said Tuesday it is ending both its more than $30 billion tender offer and a proxy fight to replace the printer and PC maker’s board. Xerox concluded it is no longer prudent to pursue the deal given the public health crisis and resulting market swoon.



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