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Zerox Pulls The Plug On HP Bid Could Be On Again After Covid-19 Epidemic

Xerox Holdings has pulled the plug on its hostile bid for PC maker Hewlett Packard however it could be back on after the Coronavirus epidemic has been resolved.

The Company has pulled the bid according to Bloomberg because of uncertainty stemming from the Covid-19 pandemic.

Analysts believe it will be a blow to Xerox as the photocopier company looks to stimulate future growth.

Xerox believes the underlying logic behind a combination remains sound and may revisit the idea in the future, the person added.

HP, the world’s second-largest computer maker, has repeatedly rejected Xerox’s cash-and-stock offers, most recently valued at an estimated $35 billion.

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