The Office Times

Xerox withdraws HP takeover bid

Xerox has announced that the current global health crisis and resulting macroeconomic and market turmoil caused by COVID-19 have created an environment that is not conducive to it continuing to pursue an acquisition of HP Inc.

Xerox added: "While it is disappointing to take this step, we are prioritizing the health, safety and well-being of our employees, customers, partners and other stakeholders, and our broader response to the pandemic, over and above all other considerations.

"There remain compelling long-term financial and strategic benefits from combining Xerox and HP. The refusal of HP’s Board to meaningfully engage over many months and its continued delay tactics have proven to be a great disservice to HP stockholders, who have shown tremendous support for the transaction."



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