Xerox considering takeover of HP, according to report
A Xerox takeover of HP would combine two of the world's largest printer companies.
What you need to know
- Xerox is considering a takeover of HP according to a new report.
- HP is currently three times the size of Xerox.
- Xerox shares are up 84 percent this year.
Xerox Holding Corp. might perform a takeover of HP Inc. according to a report from the Wall Street Journal. According to the Wall Street Journal, the board of Xerox discussed a possible takeover of HP on Tuesday. HP is currently three times the size of Xerox, and there's no guarantee that the potential takeover happens, but if it did, it would bring together two of the world's largest and most recognized printer manufacturers.
Xerox recently made a deal to sell stakes in Fujifilm Holdings Corp.. The company also has an informal funding commitment from a major bank according to people in contact with the Wall Street Journal. Xerox shares are up 84 percent this year, and its stock value rose five percent when the news broke about the Fujifilm deal.
HP's shares are down 10 percent this year, but the company reported a revenue of more than $58 billion in the fiscal year ending in October 2018. In comparison, Xerox has an annual revenue of $10 billion, largely from renting and maintaining business machines, according to the Wall Street Journal.
A takeover of HP by Xerox would bring together two of the most recognized names in the printing industry. HP primarily sells consumer devices, while Xerox has a strong foothold in the corporate space. A combination of these two companies would cover a wide range of customers and environments.
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