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Xerox confirms HP bid, praises industry consolidation

Nov. 07, 2019 3:03 PM ETHPQ, XRXBy: Brandy Betz, SA News Editor22 Comments
  • Xerox (XRX -0.2%) follows HP's (HPQ -0.5%lead in confirming the proposed combination but offering few other details.
  • Xerox: “Our industry is long overdue for consolidation, and those who move first will have a distinct advantage. We look forward to expeditiously moving this process forward and creating additional value for shareholders.”
  • Earlier today, CNBC sources said Xerox will offer $22/share in cash and stock. HP shares closed yesterday at $19.57.

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