U.S. printer maker Xerox Holdings Corp walked away from its $35 billion hostile cash-and-stock bid for HP Inc on Tuesday, after the coronavirus outbreak weighed on its campaign to take over the PC and printing equipment manufacturer.
FILE PHOTO: The company logo for Xerox is displayed on a screen on the floor of the New York Stock Exchange in New York, U.S., March 11, 2019. REUTERS/Brendan McDermid - RC15DA6446E0/File Photo
It is also a blow for billionaire investor Carl Icahn, who owns big stakes in both companies and had pushed for their merger. Xerox added that there were compelling long-term financial and strategic benefits in a potential combination with HP. While it is possible that the companies will choose to engage once the coronavirus crisis subsides, Xerox’s decision means that it will not get another chance to put such pressure on HP until its next annual shareholder meeting in spring 2021.
The market rout triggered by the global coronavirus outbreak has led many companies to hit the pause button on mergers and acquisitions, sabotaging the hopes of corporate advisers who expected a dealmaking bonanza this year. Nevertheless, HP had been reluctant to engage in deal discussions with Xerox since November, when the latter launched its takeover campaign after reaching a settlement with Fujifilm Holdings Corp that resolved a legal dispute over their 57-year-old joint venture and a previous attempt to merge, yielding a $2.3 billion after-tax payoff for Xerox.
日本 最新ニュース, 日本 見出し
Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。
13 tech companies that have added women to their boards since 2019 - Business InsiderFacebook just added two women to its board, joining companies like Stitch Fix and HP in bringing more diverse voices to the table.
続きを読む »
Kristen Bell And Dax Shepard Admitted They're 'At Each Other's Throats' In Quarantine And It Was Kinda Intense'We've been at each other's throats...real bad. Real bad.'
続きを読む »
Thailand earmarks further $15 billion for coronavirus crisisThailand's new stimulus package to alleviate the impact of the coronavirus crisis will be worth more than 500 billion baht ($15.3 billion), its finance minister said on Monday,
続きを読む »
Saudi Aramco may sell pipeline unit stake for cash amid oil price rut - Business InsiderAramco is looking to raise capital ahead of $75 billion in dividend payments through 2020 and a planned $70 billion acquisition, Bloomberg reported.
続きを読む »
How Desperate Are Sports Leagues Right Now? This Desperate.In their desperation to get sports back going again, executives have started floating a few pretty crazy ideas. Like playing in a bubble. williamfleitch writes
続きを読む »
Man abandons pet dog because he thought it could give him coronavirusA man from Cape Coral in Florida has admitted dumping his dog because he believed the animal could infect him with coronavirus.
続きを読む »