- Xerox's (NYSE:XRX) offer for HP (NYSE:HPQ) consists of 77% cash and 23% stock, according to CNBC sources.
- HP shareholders would own 48% of the combined company.
- Yesterday, WSJ sources said Xerox would offer under $23 per share in the bid.
- After the bell, HP confirmed receiving a proposal but provided no further details.
- HP shares are up 1.2% pre-market to $19.80.